Flywire (NASDAQ:FLYW) Stock Keeps "Outperform" Rating at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “Outperform” rating on Flywire and maintained a $25 price target, implying 43.88% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $20.23.
• Flywire reported 27.2% year-over-year revenue growth to $163.8 million in its latest quarter, exceeding estimates, though adjusted earnings per share missed expectations by $0.05.
• Insiders sold 555,718 shares worth approximately $10.6 million over the past three months, while institutional investors own a substantial 95.9% of the company’s outstanding stock.

Flywire (NASDAQ:FLYW - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Royal Bank Of Canada in a note issued to investors on Wednesday, Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 43.88% from the stock's previous close.

A number of other brokerages also recently issued reports on FLYW. BTIG Research restated a "buy" rating on shares of Flywire in a research note on Thursday, September 10th. Seaport Research Partners reiterated a "buy" rating and set a $22.00 price target on shares of Flywire in a research note on Monday, August 17th. Morgan Stanley reissued an "overweight" rating and issued a $22.00 price target on shares of Flywire in a research report on Wednesday, August 5th. Zacks Research lowered shares of Flywire from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Finally, Wolfe Research boosted their price objective on Flywire from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Flywire currently has a consensus rating of "Moderate Buy" and an average price target of $20.23.

Flywire Price Performance

Shares of Flywire stock traded up $0.05 on Wednesday, hitting $17.38. 43,198 shares of the company's stock traded hands, compared to its average volume of 1,898,657. The company has a fifty day moving average of $17.77 and a two-hundred day moving average of $15.93. Flywire has a one year low of $10.55 and a one year high of $19.73. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 66.80, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. During the same period last year, the firm posted ($0.10) earnings per share. The company's revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Flywire will post 0.4 earnings per share for the current year.

Insider Transactions at Flywire

In other news, major shareholder Voss Capital, Lp sold 172,973 shares of Flywire stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the transaction, the insider owned 369,168 shares in the company, valued at $7,084,333.92. This trade represents a 31.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 12,156 shares of Flywire stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total transaction of $218,686.44. Following the sale, the general counsel owned 601,022 shares in the company, valued at approximately $10,812,385.78. The trade was a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 555,718 shares of company stock valued at $10,554,333. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Flywire

Hedge funds have recently modified their holdings of the company. Voss Capital LP grew its stake in shares of Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock valued at $166,380,000 after buying an additional 2,080,202 shares during the period. Wellington Management Group LLP raised its position in shares of Flywire by 1.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company's stock valued at $93,834,000 after buying an additional 64,998 shares during the period. Jennison Associates LLC lifted its holdings in Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company's stock valued at $61,679,000 after acquiring an additional 878,248 shares during the last quarter. Wasatch Advisors LP acquired a new position in Flywire in the second quarter valued at approximately $44,026,000. Finally, Mangrove Partners IM LLC grew its position in Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company's stock worth $42,255,000 after acquiring an additional 82,383 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

About Flywire

Flywire Corporation NASDAQ: FLYW is a global payments-enablement and software company that helps organizations accept, process and manage domestic and international payments. Its platform is designed to simplify complex payment workflows, support multiple currencies and payment methods, and provide customers with tools for reconciliation, reporting and payment tracking.

The company serves institutions and businesses in sectors including education, health care, travel and business-to-business payments.