Flywire (NASDAQ:FLYW) Given "Buy" Rating at BTIG Research

Key Points

• BTIG Research reaffirmed a “buy” rating on Flywire and set a $20 price target, implying about 10.9% upside from the current share price.
• Other analysts are also generally positive on the stock, with nine Buy ratings and six Hold ratings overall and a consensus price target of $18.77.
• Flywire recently beat quarterly expectations, reporting $0.10 EPS versus a $0.03 estimate and $184 million in revenue, while revenue rose 40.9% year over year.

Flywire (NASDAQ:FLYW - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at BTIG Research in a research report issued on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock. BTIG Research's price target points to a potential upside of 10.93% from the stock's current price.

FLYW has been the topic of several other reports. Truist Financial boosted their price target on shares of Flywire from $16.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Citigroup increased their price objective on Flywire from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Wall Street Zen cut Flywire from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Morgan Stanley boosted their target price on Flywire from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Flywire from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, May 26th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.77.

Flywire Price Performance

Shares of FLYW opened at $18.03 on Tuesday. The business's 50-day moving average is $16.45 and its 200-day moving average is $14.14. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 78.39, a P/E/G ratio of 1.85 and a beta of 1.32. Flywire has a fifty-two week low of $10.10 and a fifty-two week high of $18.98.

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

Insider Activity at Flywire

In other news, CEO Michael Massaro sold 50,000 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares in the company, valued at approximately $40,867,058.26. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phillip John Riese sold 37,921 shares of Flywire stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total transaction of $639,727.27. Following the completion of the sale, the director directly owned 234,493 shares of the company's stock, valued at approximately $3,955,896.91. The trade was a 13.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 410,391 shares of company stock worth $6,700,493 over the last quarter. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in Flywire during the first quarter worth approximately $271,000. Millennium Management LLC lifted its stake in shares of Flywire by 15.1% in the first quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock worth $12,644,000 after buying an additional 175,007 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Flywire by 14.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock worth $11,792,000 after buying an additional 159,239 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock worth $1,262,000 after buying an additional 7,357 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Flywire during the 2nd quarter worth $184,000. Institutional investors and hedge funds own 95.90% of the company's stock.

About Flywire

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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