Flywire's (FLYW) Outperform Rating Reaffirmed at William Blair

Flywire (NASDAQ:FLYW - Get Free Report)'s stock had its "outperform" rating reiterated by William Blair in a note issued to investors on Wednesday, RTT News reports.

A number of other equities research analysts have also issued reports on FLYW. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a research note on Tuesday, February 6th. They issued a "buy" rating and a $27.00 target price for the company. UBS Group lifted their price objective on shares of Flywire from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their target price on shares of Flywire from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Morgan Stanley downgraded shares of Flywire from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $27.00 to $30.00 in a research note on Friday, March 1st. Finally, Citigroup decreased their price objective on shares of Flywire from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.20.

Flywire Price Performance

NASDAQ FLYW traded down $3.30 during mid-day trading on Wednesday, hitting $17.24. The company's stock had a trading volume of 11,780,750 shares, compared to its average volume of 1,637,159. The firm has a market capitalization of $2.12 billion, a P/E ratio of -188.53, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. Flywire has a 52-week low of $15.77 and a 52-week high of $35.80. The stock's fifty day simple moving average is $23.59 and its two-hundred day simple moving average is $23.17.

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). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $114.10 million during the quarter, compared to analysts' expectations of $107.81 million. During the same period in the prior year, the business posted ($0.03) EPS. The business's revenue was up 20.9% on a year-over-year basis. On average, equities analysts forecast that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FLYW. Headlands Technologies LLC acquired a new stake in Flywire in the first quarter worth about $46,000. Quest Partners LLC acquired a new stake in shares of Flywire in the 4th quarter worth approximately $52,000. RiverPark Advisors LLC boosted its holdings in shares of Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company's stock valued at $74,000 after acquiring an additional 589 shares in the last quarter. Assetmark Inc. increased its stake in shares of Flywire by 16.9% during 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 during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Flywire during the fourth quarter valued at approximately $176,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.