Brokerages Set Flywire Corporation (NASDAQ:FLYW) Price Target at $14.77

Key Points

• Flywire Corporation has a consensus rating of "Hold" from analysts, with one sell, nine hold, and five buy recommendations.
• The current average price target for Flywire shares is $14.77, with significant price adjustments made by various firms, including Wells Fargo lowering it to $13.00.
• Insider activity included the sale of 5,466 shares by director Edwin J. Santos, which represents nearly 20% decrease in his ownership, highlighting potential concerns or shifts within the company's leadership.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) has been given an average recommendation of "Hold" by the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $14.77.

FLYW has been the subject of a number of research reports. Wolfe Research reiterated a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Truist Financial boosted their price objective on shares of Flywire from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, B. Riley reduced their price objective on shares of Flywire from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, June 23rd.

Flywire Trading Down 4.8%

Shares of NASDAQ FLYW traded down $0.52 during trading hours on Wednesday, reaching $10.37. The stock had a trading volume of 2,808,603 shares, compared to its average volume of 2,526,958. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 259.25, a P/E/G ratio of 1.91 and a beta of 1.28. The business's fifty day moving average price is $11.13 and its two-hundred day moving average price is $12.37. Flywire has a 52-week low of $8.20 and a 52-week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 1.57% and a net margin of 0.97%. Flywire's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Analysts expect that Flywire will post 0.14 EPS for the current fiscal year.

Insider Transactions at Flywire

In related news, Director Edwin J. Santos sold 5,466 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $10.04, for a total value of $54,878.64. Following the completion of the transaction, the director owned 21,990 shares in the company, valued at $220,779.60. This trade represents a 19.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Flywire by 38.4% in the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company's stock worth $2,271,000 after acquiring an additional 30,572 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Flywire by 571.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 77,708 shares of the company's stock worth $738,000 after purchasing an additional 66,133 shares during the period. ABS Direct Equity Fund LLC acquired a new stake in Flywire during the 1st quarter worth about $950,000. Vanguard Group Inc. grew its position in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after purchasing an additional 781,711 shares during the period. Finally, Renaissance Technologies LLC grew its position in Flywire by 292.1% during the 4th quarter. Renaissance Technologies LLC now owns 254,400 shares of the company's stock worth $5,246,000 after purchasing an additional 189,521 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.