Flywire Corporation (NASDAQ:FLYW) Stock Has Consensus Target Price of $20.31

Key Points

• Analysts have a consensus “Hold” rating on Flywire, with eight holds and seven buys; the average 12-month price target is $20.31.
• Flywire shares opened at $19.15, up 2.8%, with a $2.33 billion market capitalization and a 52-week range of $10.55 to $19.73.
• The company’s latest quarterly revenue rose 27.2% year over year to $163.8 million, exceeding estimates, but adjusted earnings missed expectations; insiders sold $11.2 million of stock over the past 90 days.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) has been given an average rating of "Hold" by the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.31.

A number of equities analysts have recently commented on FLYW shares. Truist Financial raised their price objective on Flywire from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, August 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $25.00 target price on shares of Flywire in a report on Wednesday, September 30th. Seaport Research Partners reissued a "buy" rating and set a $22.00 target price on shares of Flywire in a research report on Monday, August 17th. Zacks Research downgraded shares of Flywire from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Finally, Wolfe Research raised their price target on shares of Flywire from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th.

Flywire Stock Up 2.8%

FLYW stock opened at $19.15 on Friday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 73.66, a PEG ratio of 1.19 and a beta of 1.35. The business has a fifty day simple moving average of $18.22 and a 200-day simple moving average of $16.69. Flywire has a 52 week low of $10.55 and a 52 week high of $19.73.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. During the same quarter in the previous year, the business posted ($0.10) EPS. Flywire's revenue was up 27.2% compared to the same quarter last year. As a group, analysts expect that Flywire will post 0.40 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 12,156 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total value of $218,686.44. Following the completion of the sale, the general counsel owned 601,022 shares of the company's stock, valued at $10,812,385.78. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David King sold 36,900 shares of the firm's stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total transaction of $676,008.00. Following the completion of the transaction, the insider directly owned 202,404 shares in the company, valued at approximately $3,708,041.28. This represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 592,618 shares of company stock worth $11,230,341 over the last ninety days. 5.00% of the stock is owned by company insiders.

Institutional Trading of Flywire

Several large investors have recently added to or reduced their stakes in FLYW. Renaissance Technologies LLC lifted its stake in shares of Flywire by 110.8% during the first quarter. Renaissance Technologies LLC now owns 887,200 shares of the company's stock worth $10,327,000 after purchasing an additional 466,300 shares in the last quarter. North Reef Capital Management LP boosted its position in shares of Flywire by 83.3% in the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company's stock worth $12,804,000 after buying an additional 499,999 shares during the period. Squarepoint Ops LLC grew its stake in shares of Flywire by 158.4% in the second quarter. Squarepoint Ops LLC now owns 539,307 shares of the company's stock valued at $9,476,000 after buying an additional 330,622 shares in the last quarter. Roubaix Capital LLC acquired a new stake in shares of Flywire in the first quarter valued at about $2,685,000. Finally, Jennison Associates LLC grew its stake in shares of 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 buying an additional 878,248 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Company Profile

Flywire Corp. NASDAQ: FLYW is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.

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