Flywire Corporation (NASDAQ:FLYW) Given Consensus Rating of "Hold" by Brokerages

Flywire Corporation (NASDAQ:FLYW - Get Free Report) has been assigned an average rating of "Hold" from the fifteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.00.

Several brokerages recently weighed in on FLYW. Citigroup cut their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company cut their price objective on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $9.00 price objective (down previously from $16.00) on shares of Flywire in a research report on Monday, April 14th. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th.

Flywire Stock Performance

Shares of FLYW opened at $11.83 on Friday. Flywire has a one year low of $8.20 and a one year high of $23.40. The company has a 50-day moving average of $10.81 and a two-hundred day moving average of $13.47. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 295.75, a PEG ratio of 1.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 2.02.

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

Insider Transactions at Flywire

In other news, Director Edwin J. Santos sold 5,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the completion of the transaction, the director owned 16,990 shares of the company's stock, valued at approximately $178,395. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of Flywire by 2.3% in the first quarter. Rhumbline Advisers now owns 169,553 shares of the company's stock valued at $1,611,000 after buying an additional 3,732 shares during the period. Strs Ohio bought a new stake in shares of Flywire in the first quarter valued at about $620,000. Mendon Capital Advisors Corp bought a new stake in shares of Flywire in the first quarter valued at about $919,000. Caxton Associates LLP bought a new position in Flywire during the first quarter worth about $393,000. Finally, Goldman Sachs Group Inc. lifted its stake in Flywire by 14.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock worth $11,792,000 after purchasing an additional 159,239 shares during the period. Institutional investors own 95.90% of the company's stock.

About Flywire

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.

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