Flywire (NASDAQ:FLYW) Reaches New 1-Year High - Time to Buy?

Key Points

• Flywire shares reached a new 52-week high of $19.01, trading around $18.96 and up 4.0%. The stock’s consensus analyst rating remains “Hold,” with an average price target of $19.54.
• The company’s latest quarterly revenue rose 27.2% year over year to $163.8 million, exceeding estimates, but adjusted EPS of negative $0.07 missed the consensus loss estimate of $0.02.
• Institutional ownership is high at 95.9%, with several funds increasing their stakes, while insiders sold roughly 304,889 shares worth $5.0 million over the past three months.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $19.01 and last traded at $18.9570, with a volume of 711340 shares traded. The stock had previously closed at $18.25.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an "outperform" rating in a research report on Wednesday, May 27th. Citigroup reissued a "neutral" rating on shares of Flywire in a report on Thursday, August 6th. Truist Financial boosted their price objective on Flywire from $17.00 to $19.00 and gave the company a "hold" rating in a research report on Friday, August 14th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $22.00 price objective on shares of Flywire in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upgraded Flywire from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Flywire has an average rating of "Hold" and a consensus target price of $19.54.

Flywire Stock Up 4.0%

The company has a market capitalization of $2.31 billion, a P/E ratio of 73.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.34. The business has a 50 day moving average of $17.13 and a 200 day moving average of $14.62.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The business's revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) EPS. On average, research analysts anticipate that Flywire Corporation will post 0.4 EPS for the current year.

Insider Buying and Selling

In other Flywire news, insider Mohit Kansal sold 3,650 shares of Flywire stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $16.96, for a total value of $61,904.00. Following the completion of the transaction, the insider directly owned 500,670 shares of the company's stock, valued at $8,491,363.20. This trade represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Massaro sold 50,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.26, for a total transaction of $763,000.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 304,889 shares of company stock valued at $4,958,590 in the last three months. Corporate insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Flywire by 110.8% during the 1st quarter. Renaissance Technologies LLC now owns 887,200 shares of the company's stock valued at $10,327,000 after purchasing an additional 466,300 shares during the last quarter. Voss Capital LP lifted its stake in Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock worth $166,380,000 after purchasing an additional 2,080,202 shares during the last quarter. Jennison Associates LLC boosted its position 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 valued at $62,596,000 after buying an additional 1,150,802 shares during the period. AlphaQuest LLC boosted its position in shares of Flywire by 372.4% during the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company's stock valued at $1,493,000 after buying an additional 83,128 shares during the period. Finally, North Reef Capital Management LP grew its stake in shares of Flywire by 83.3% during the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company's stock valued at $12,804,000 after buying an additional 499,999 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source