Flywire (NASDAQ:FLYW) Reaches New 1-Year High - Here's Why

Key Points

• Flywire shares hit a new 52-week high, trading as high as $18.98 before closing near $18.82, extending a recent rally in the stock.
• Recent earnings topped expectations, with quarterly EPS of $0.10 versus the $0.03 estimate and revenue of $184 million, up 40.9% from a year earlier.
• Analyst sentiment is mixed but generally positive, with a consensus rating of “Moderate Buy” and a consensus price target of $18.29, even as one recent downgrade and several higher targets were reported.

Flywire Corporation (NASDAQ:FLYW - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $18.98 and last traded at $18.8210, with a volume of 130937 shares changing hands. The stock had previously closed at $18.78.

Analyst Ratings Changes

FLYW has been the subject of a number of recent research reports. Wall Street Zen downgraded Flywire from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Deutsche Bank Aktiengesellschaft raised Flywire to an "outperform" rating in a research report on Wednesday, May 27th. New Street Research set a $16.00 price target on Flywire in a research note on Thursday, May 21st. Raymond James Financial reissued an "outperform" rating and issued a $22.00 price objective on shares of Flywire in a report on Wednesday, May 27th. Finally, BTIG Research boosted their price objective on Flywire from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Flywire has a consensus rating of "Moderate Buy" and a consensus price target of $18.29.

Flywire Stock Down 0.7%

The firm has a 50-day simple moving average of $16.38 and a 200-day simple moving average of $14.05. The stock has a market cap of $2.30 billion, a PE ratio of 81.47, a P/E/G ratio of 1.80 and a beta of 1.32.

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

Insider Buying and Selling at Flywire

In other news, insider Mohit Kansal sold 54,543 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.15, for a total value of $826,326.45. Following the completion of the transaction, the insider directly owned 504,320 shares in the company, valued at approximately $7,640,448. This trade represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 6,528 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.08, for a total transaction of $98,442.24. Following the transaction, the general counsel directly owned 652,152 shares of the company's stock, valued at approximately $9,834,452.16. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 410,391 shares of company stock worth $6,700,493. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLYW. AQR Capital Management LLC purchased a new position in shares of Flywire during the 1st quarter valued at $271,000. Millennium Management LLC raised its position 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 in the last quarter. Goldman Sachs Group Inc. raised its position 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 in the last quarter. American Century Companies Inc. boosted its stake in Flywire by 7.3% during the second quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock valued at $1,262,000 after buying an additional 7,357 shares during the period. Finally, Prudential Financial Inc. bought a new stake in Flywire during the second quarter valued at $184,000. 95.90% of the stock is owned by institutional investors.

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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