Flywire Co. (NASDAQ:FLYW) Forecasted to Earn Q2 2024 Earnings of ($0.10) Per Share

Flywire Co. (NASDAQ:FLYW - Free Report) - Analysts at William Blair decreased their Q2 2024 earnings per share estimates for shares of Flywire in a research report issued on Wednesday, May 8th. William Blair analyst C. Kennedy now expects that the company will earn ($0.10) per share for the quarter, down from their previous forecast of ($0.06). William Blair has a "Outperform" rating on the stock. The consensus estimate for Flywire's current full-year earnings is $0.03 per share. William Blair also issued estimates for Flywire's Q4 2024 earnings at $0.04 EPS and FY2024 earnings at $0.10 EPS.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The firm had revenue of $114.10 million for the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The business's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) EPS.

A number of other equities research analysts have also recently weighed in on FLYW. The Goldman Sachs Group reduced their price target on shares of Flywire from $32.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday. Oppenheimer started coverage on shares of Flywire in a research note on Tuesday, January 23rd. They set an "outperform" rating and a $25.00 target price for the company. Morgan Stanley cut shares of Flywire from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $27.00 to $30.00 in a research note on Friday, March 1st. UBS Group dropped their price target on shares of Flywire from $34.00 to $26.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Citigroup lowered their price objective on Flywire from $36.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.60.

Flywire Price Performance

Shares of FLYW traded down $0.09 during mid-day trading on Friday, reaching $17.59. The company's stock had a trading volume of 2,369,283 shares, compared to its average volume of 1,668,059. The company's 50 day moving average is $23.15 and its 200 day moving average is $23.10. The stock has a market cap of $2.16 billion, a PE ratio of -196.42, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. Flywire has a 12-month low of $15.77 and a 12-month high of $35.80.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. Headlands Technologies LLC acquired a new position in Flywire during the 1st quarter valued at approximately $46,000. Quest Partners LLC acquired a new position in Flywire during the 4th quarter valued at about $52,000. RiverPark Advisors LLC bought a new stake in shares of Flywire during the 3rd quarter worth about $83,000. Assetmark Inc. boosted its holdings in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company's stock valued at $117,000 after acquiring an additional 733 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Flywire during the third quarter valued at approximately $224,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Flywire news, CEO Michael Massaro sold 28,822 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $786,840.60. Following the transaction, the chief executive officer now owns 1,743,032 shares of the company's stock, valued at approximately $47,584,773.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Flywire news, CEO Michael Massaro sold 28,822 shares of the company's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $786,840.60. Following the completion of the sale, the chief executive officer now directly owns 1,743,032 shares in the company, valued at $47,584,773.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David R. King sold 9,366 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the transaction, the chief technology officer now owns 621,568 shares in the company, valued at approximately $16,968,806.40. The disclosure for this sale can be found here. Insiders sold 141,800 shares of company stock worth $3,743,582 in the last ninety days. Insiders own 5.00% of the company's stock.

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.