Flywire's (FLYW) "Hold" Rating Reiterated at Truist Financial

Key Points

• Truist Financial reiterated its "hold" rating on Flywire and lowered its price target to $17 from $18, implying modest upside from the previous close.
• Analyst sentiment is mixed: Flywire has eight Buy ratings and seven Hold ratings, with a consensus rating of Moderate Buy and an average price target of $18.69.
• Flywire shares were down about 2.5% at $16.13, while the company’s latest earnings beat expectations with $0.10 EPS on $184 million revenue, both above analyst estimates.

Flywire (NASDAQ:FLYW - Get Free Report)'s stock had its "hold" rating reaffirmed by investment analysts at Truist Financial in a research note issued on Friday,Benzinga reports. They currently have a $17.00 price objective on the stock, down from their prior price objective of $18.00. Truist Financial's target price would suggest a potential upside of 5.39% from the stock's previous close.

Several other research firms have also weighed in on FLYW. Raymond James Financial reiterated an "outperform" rating and issued a $22.00 price objective on shares of Flywire 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 research note on Saturday, June 20th. UBS Group boosted their price target on shares of Flywire from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on shares of Flywire from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Flywire from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.69.

Flywire Stock Down 2.5%

Shares of FLYW stock opened at $16.13 on Friday. Flywire has a 12 month low of $10.10 and a 12 month high of $18.98. The firm has a market cap of $1.99 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32. The stock has a 50 day moving average of $16.48 and a 200-day moving average of $14.19.

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

Insider Buying and Selling

In other news, Director Phillip John Riese sold 37,921 shares of the firm's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the transaction, the director directly owned 234,493 shares in the company, valued at $3,955,896.91. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Massaro sold 50,000 shares of the business'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 completion of the transaction, the chief executive officer directly owned 2,678,051 shares of the company's stock, valued at $40,867,058.26. This trade represents a 1.83% 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 90 days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC increased its position in shares of Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after purchasing an additional 1,571 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Flywire during the 4th quarter worth about $32,000. KBC Group NV acquired a new position in shares of Flywire during the 1st quarter worth about $38,000. Leonteq Securities AG raised its holdings in shares of Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after purchasing an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after buying an additional 2,497 shares during the period. 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.

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