Flywire (NASDAQ:FLYW) Issues Earnings Results

Flywire (NASDAQ:FLYW - Get Free Report) released its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01), Briefing.com reports. The company had revenue of $114.10 million during the quarter, compared to analysts' expectations of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The company's revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share.

Flywire Trading Down 16.1 %

FLYW stock traded down $3.30 during midday trading on Wednesday, reaching $17.24. 11,780,750 shares of the company's stock traded hands, compared to its average volume of 1,637,159. Flywire has a 52-week low of $15.77 and a 52-week high of $35.80. The stock has a market cap of $2.12 billion, a P/E ratio of -188.53, a PEG ratio of 11.18 and a beta of 1.09. The stock's 50-day moving average is $23.59 and its 200 day moving average is $23.17.

Insider Transactions at Flywire

In related news, CTO David R. King sold 9,366 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the transaction, the chief technology officer now directly owns 621,568 shares of the company's stock, valued at approximately $16,968,806.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Peter Butterfield sold 4,730 shares of Flywire stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $129,129.00. Following the transaction, the general counsel now owns 214,678 shares in the company, valued at approximately $5,860,709.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO David R. King sold 9,366 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 value of $255,691.80. Following the completion of the transaction, the chief technology officer now directly owns 621,568 shares of the company's stock, valued at approximately $16,968,806.40. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock worth $3,743,582 in the last 90 days. 5.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FLYW has been the subject of a number of analyst reports. Oppenheimer assumed coverage on shares of Flywire in a research note on Tuesday, January 23rd. They set an "outperform" rating and a $25.00 price objective for the company. BTIG Research lowered their price objective on Flywire from $34.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley downgraded Flywire from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $27.00 to $30.00 in a research note on Friday, March 1st. Truist Financial boosted their price target on Flywire from $30.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada dropped their price objective on Flywire from $41.00 to $34.00 and set an "outperform" rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.20.

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.