Flywire (NASDAQ:FLYW) Issues Earnings Results, Beats Estimates By $0.26 EPS

Key Points

• Flywire beat quarterly estimates, reporting EPS of $0.57 versus consensus of $0.31 and revenue of $250.30 million versus expectations of $233.25 million.
• Shares dipped $0.34 to $19.15 on Tuesday despite the earnings beat.
• Analysts’ consensus rating remains Hold, with an average price target of $20.46; seven analysts rate the stock Buy and eight rate it Hold.

Flywire (NASDAQ:FLYW - Get Free Report) issued its earnings results on Tuesday. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.26, FiscalAI reports. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company had revenue of $250.30 million for the quarter, compared to analysts' expectations of $233.25 million.

Flywire Stock Performance

Shares of Flywire stock traded down $0.34 on Tuesday, hitting $19.15. 3,148,810 shares of the company's stock were exchanged, compared to its average volume of 1,837,674. The company has a 50-day simple moving average of $18.30 and a 200-day simple moving average of $15.55. The stock has a market capitalization of $2.33 billion, a PE ratio of 73.66, a PEG ratio of 1.21 and a beta of 1.35. Flywire has a 1 year low of $10.55 and a 1 year high of $20.24.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLYW. The Goldman Sachs Group reiterated a "neutral" rating and set a $22.00 target price on shares of Flywire in a research note on Wednesday, August 5th. Weiss Ratings upgraded Flywire from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, September 1st. Stephens initiated coverage on Flywire in a research note on Friday, October 16th. They issued an "equal weight" rating and a $20.00 price target on the stock. Seaport Research Partners reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Flywire in a report on Monday, August 17th. Finally, BTIG Research reiterated a "buy" rating on shares of Flywire in a research report on Thursday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Flywire currently has a consensus rating of "Hold" and an average target price of $20.46.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 12,156 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total value of $218,686.44. Following the transaction, the general counsel directly owned 601,022 shares of the company's stock, valued at approximately $10,812,385.78. This trade represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David King sold 36,900 shares of Flywire stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total value of $676,008.00. Following the transaction, the insider owned 202,404 shares in the company, valued at $3,708,041.28. This trade represents a 15.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 592,618 shares of company stock worth $11,230,341 in the last three months. Corporate insiders own 5.00% of the company's stock.

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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