Flywire Corporation (NASDAQ:FLYW) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately positive: Fifteen firms covering Flywire assign a consensus “Moderate Buy” rating, with eight buys and seven holds. The average 12-month price target is $20.23, above the reported share price of $18.83.
• Flywire’s latest quarter showed mixed results: Revenue rose 27.2% year over year to $163.8 million, exceeding estimates, but adjusted earnings per share of negative $0.07 missed the consensus estimate of negative $0.02.
• Institutional ownership remains high at 95.9%: Several institutions increased their positions, while insiders sold 664,471 shares worth approximately $12.2 million over the past quarter. The stock has recently traded near its 12-month high, reaching $19.73.

Shares of Flywire Corporation (NASDAQ:FLYW - Get Free Report) have earned an average rating of "Moderate Buy" from the fifteen research firms that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.2308.

FLYW has been the subject of a number of recent research reports. Citigroup restated a "neutral" rating on shares of Flywire in a report on Thursday, August 6th. B. Riley Financial lifted their target price on shares of Flywire from $22.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. upgraded shares of Flywire from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. BTIG Research reissued a "buy" rating and issued a $20.00 price target on shares of Flywire in a research note on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of Flywire from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th.

Insider Activity

In related news, General Counsel Peter Butterfield sold 6,528 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the sale, the general counsel directly owned 652,152 shares of the company's stock, valued at $9,834,452.16. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Voss Capital, Lp sold 44,768 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $18.78, for a total value of $840,743.04. Following the completion of the sale, the insider owned 11,069,321 shares of the company's stock, valued at approximately $207,881,848.38. This trade represents a 0.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 664,471 shares of company stock valued at $12,174,426. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FLYW. AQR Capital Management LLC purchased a new position in shares of Flywire during the first quarter valued at approximately $271,000. Millennium Management LLC grew its stake in shares of Flywire by 15.1% in the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock worth $12,644,000 after buying an additional 175,007 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Flywire by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock worth $11,792,000 after buying an additional 159,239 shares during the last quarter. American Century Companies Inc. increased its position in Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock valued at $1,262,000 after buying an additional 7,357 shares in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Flywire during the second quarter valued at $184,000. Institutional investors own 95.90% of the company's stock.

Flywire Trading Up 3.6%

FLYW stock opened at $18.83 on Thursday. The firm has a 50 day moving average of $17.90 and a 200-day moving average of $15.19. The firm has a market capitalization of $2.29 billion, a P/E ratio of 72.43, a price-to-earnings-growth ratio of 1.16 and a beta of 1.30. Flywire has a 12 month low of $10.55 and a 12 month high of $19.73.

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

About Flywire

Flywire Corp NASDAQ: FLYW is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.

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