Flywire (NASDAQ:FLYW) Receives “Outperform” Rating from William Blair

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating reaffirmed by equities research analysts at William Blair in a research report issued on Wednesday, RTT News reports.

A number of other research analysts have also commented on FLYW. Oppenheimer started coverage on Flywire in a report on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. UBS Group raised 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. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a research report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Truist Financial upped their price objective on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.07.

Flywire Stock Performance

Flywire stock opened at $17.50 on Wednesday. The company has a 50-day simple moving average of $23.59 and a 200-day simple moving average of $23.17. The firm has a market capitalization of $2.15 billion, a P/E ratio of -228.20, a P/E/G ratio of 11.18 and a beta of 1.09. Flywire has a one year low of $17.50 and a one year high of $35.80.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share 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 for the quarter, compared to the consensus estimate of $107.81 million. During the same period last year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that Flywire will post 0.03 earnings per share for the current year.

Insider Transactions at Flywire

In related news, CTO David R. King sold 9,366 shares of the company’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 value of $255,691.80. Following the completion of the sale, the chief technology officer now owns 621,568 shares in the company, valued at approximately $16,968,806.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Peter Butterfield sold 4,730 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 $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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $255,691.80. Following the sale, the chief technology officer now owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock valued at $3,743,582 over the last ninety days. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Flywire by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,788 shares of the company’s stock worth $551,000 after acquiring an additional 6,669 shares during the last quarter. Northern Trust Corp increased its position in Flywire by 8.6% in the 3rd quarter. Northern Trust Corp now owns 946,240 shares of the company’s stock worth $30,176,000 after purchasing an additional 74,534 shares during the last quarter. Comerica Bank purchased a new stake in shares of Flywire during the 3rd quarter worth about $10,987,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Flywire by 255.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 160,919 shares of the company’s stock valued at $3,725,000 after buying an additional 115,691 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Flywire by 176.0% in the 3rd quarter. Barclays PLC now owns 173,122 shares of the company’s stock valued at $5,522,000 after buying an additional 110,391 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

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.