Flywire (NASDAQ:FLYW) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Flywire from “buy” to “hold,” even though the broader analyst consensus remains Moderate Buy with an average price target of $18.07.
• Flywire recently reported strong quarterly results, posting $0.10 EPS versus $0.03 expected and revenue of $184 million versus $170.24 million estimated, with revenue up 40.9% year over year.
• Insider activity has been notable, with COO Rob Orgel and General Counsel Peter Butterfield selling shares; insiders have sold 406,741 shares worth about $6.64 million over the last 90 days.

Flywire (NASDAQ:FLYW - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

A number of other brokerages also recently weighed in on FLYW. Raymond James Financial reissued an "outperform" rating and set a $22.00 price target on shares of Flywire in a research report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $17.00 price objective on shares of Flywire in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Zacks Research raised Flywire from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 20th. Finally, Truist Financial increased their price target on Flywire from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Flywire currently has an average rating of "Moderate Buy" and an average target price of $18.07.

Flywire Price Performance

Shares of FLYW stock opened at $15.85 on Friday. The company has a fifty day moving average price of $14.88 and a two-hundred day moving average price of $13.63. Flywire has a one year low of $10.10 and a one year high of $18.05. The stock has a market cap of $1.96 billion, a P/E ratio of 68.91, a P/E/G ratio of 1.62 and a beta of 1.34.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire's revenue for the quarter was up 40.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS. As a group, equities research analysts anticipate that Flywire will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Rob Orgel sold 178,980 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the transaction, the chief operating officer owned 959,061 shares in the company, valued at approximately $16,304,037. This represents a 15.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Peter Butterfield sold 6,528 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.08, for a total transaction of $98,442.24. Following the sale, the general counsel 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 406,741 shares of company stock worth $6,638,589 in the last 90 days. Corporate insiders own 5.00% of the company's stock.

Institutional Trading of Flywire

Several hedge funds have recently added to or reduced their stakes in FLYW. CIBC Private Wealth Group LLC acquired a new position in Flywire in the 3rd quarter valued at $1,253,000. Jennison Associates LLC lifted its holdings in shares of Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company's stock worth $62,596,000 after buying an additional 1,150,802 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Flywire during the third quarter worth $1,354,000. AlphaQuest LLC boosted its position in shares of Flywire by 372.4% in the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company's stock valued at $1,493,000 after acquiring an additional 83,128 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Flywire by 103.3% in the fourth quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company's stock valued at $14,499,000 after acquiring an additional 520,256 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

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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