Flywire (NASDAQ:FLYW) Shares Gap Up on Analyst Upgrade

Key Points

• Flywire's share price increased significantly after UBS Group raised its price target from $11.50 to $13.50, opening at $13.10 compared to the previous close of $10.38.
• Analyst ratings for Flywire are mixed, with nine analysts holding, two selling, and five buying, resulting in a consensus rating of "Hold" and target price of $14.65.
• Despite a $0.09 loss per share in its latest earnings report, Flywire's revenue grew by 27.2% year-over-year, reaching $127.50 million, exceeding analysts' expectations of $119.65 million.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) shares gapped up prior to trading on Wednesday after UBS Group raised their price target on the stock from $11.50 to $13.50. The stock had previously closed at $10.38, but opened at $13.10. UBS Group currently has a neutral rating on the stock. Flywire shares last traded at $12.34, with a volume of 1,650,007 shares trading hands.

A number of other equities research analysts have also issued reports on FLYW. Wolfe Research reissued a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. Wall Street Zen lowered Flywire from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group increased their price target on shares of Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. B. Riley reduced their target price on Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. Finally, Wells Fargo & Company reduced their price target on Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Flywire has a consensus rating of "Hold" and a consensus target price of $13.71.

Insiders Place Their Bets

In other news, Director Edwin J. Santos sold 5,000 shares of Flywire stock in a transaction that occurred on 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 sale, the director owned 16,990 shares of the company's stock, valued at approximately $178,395. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company's stock valued at $38,000 after acquiring an additional 2,167 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flywire in the fourth quarter valued at about $77,000. GAMMA Investing LLC raised its holdings in Flywire by 23,876.5% in the first quarter. GAMMA Investing LLC now owns 4,076 shares of the company's stock worth $429,000 after purchasing an additional 4,059 shares in the last quarter. CWM LLC lifted its position in shares of Flywire by 850.9% during the second quarter. CWM LLC now owns 6,447 shares of the company's stock valued at $75,000 after buying an additional 5,769 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of Flywire in the 4th quarter worth approximately $225,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

The stock has a market cap of $1.44 billion, a P/E ratio of 237.30, a price-to-earnings-growth ratio of 2.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.02 and a current ratio of 2.02. The firm's 50 day moving average is $11.17 and its 200 day moving average is $12.07.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). Flywire had a net margin of 1.27% and a return on equity of 1.93%. The company had revenue of $127.50 million for the quarter, compared to analyst estimates of $119.65 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The company's revenue for the quarter was up 27.2% compared to the same quarter last year. Analysts anticipate that Flywire Corporation will post 0.14 EPS for the current year.

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.