Flywire (NASDAQ:FLYW) Stock Price Up 6.5% - What's Next?

Key Points

• Flywire shares rose 6.5% on Wednesday, trading as high as $18.73 after closing at $17.59 the prior day, though volume was well below average.
• Analysts remain broadly positive: Flywire now has a consensus “Moderate Buy” rating with a price target of $18.29, after several firms recently raised targets or upgraded the stock.
• The company’s latest earnings beat expectations, with Q1 EPS of $0.10 versus $0.03 expected and revenue up 40.9% year over year to $184 million.

Flywire Corporation (NASDAQ:FLYW - Get Free Report)'s stock price traded up 6.5% during trading on Wednesday . The stock traded as high as $18.73 and last traded at $18.7260. 974,266 shares traded hands during trading, a decline of 50% from the average daily volume of 1,957,802 shares. The stock had previously closed at $17.59.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup boosted their target price on Flywire from $13.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft raised shares of Flywire to an "outperform" rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded shares of Flywire from a "buy" rating to a "hold" rating in a report on Saturday, June 20th. BTIG Research lifted their price objective on Flywire from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Truist Financial increased their target price on Flywire from $16.00 to $18.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.29.

Flywire Trading Up 5.4%

The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 80.61, a price-to-earnings-growth ratio of 1.82 and a beta of 1.32. The business has a 50 day simple moving average of $16.36 and a 200-day simple moving average of $14.02.

Flywire (NASDAQ:FLYW - Get Free Report) last announced 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. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period in the prior year, the firm posted ($0.03) EPS. The company's revenue was up 40.9% on a year-over-year basis. Research analysts predict that Flywire Corporation will post 0.28 EPS for the current year.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 6,528 shares of Flywire stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the transaction, the general counsel owned 652,152 shares in the company, valued at approximately $9,834,452.16. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 50,000 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the sale, the chief executive officer directly owned 2,678,051 shares of the company's stock, valued at approximately $40,867,058.26. This trade represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 410,391 shares of company stock worth $6,700,493. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. AQR Capital Management LLC acquired a new stake in shares of Flywire in the first quarter worth $271,000. Millennium Management LLC increased its holdings in Flywire by 15.1% in the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock valued at $12,644,000 after purchasing an additional 175,007 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Flywire by 14.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock valued at $11,792,000 after purchasing an additional 159,239 shares in the last quarter. American Century Companies Inc. raised its position in Flywire by 7.3% in the second quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock valued at $1,262,000 after purchasing an additional 7,357 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of Flywire during the second quarter worth about $184,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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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