B. Riley Has Bullish Forecast for Flywire FY2024 Earnings

Flywire Co. (NASDAQ:FLYW) – Stock analysts at B. Riley upped their FY2024 earnings per share (EPS) estimates for Flywire in a report issued on Monday, January 13th. B. Riley analyst H. Goetsch now expects that the company will earn $0.15 per share for the year, up from their previous forecast of $0.02. B. Riley currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for Flywire’s current full-year earnings is $0.13 per share. B. Riley also issued estimates for Flywire’s Q4 2024 earnings at $0.00 EPS, FY2025 earnings at $0.53 EPS and FY2026 earnings at $1.03 EPS.

A number of other analysts have also issued reports on the stock. Citigroup dropped their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Finally, Raymond James boosted their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.36.

Flywire Stock Performance

Flywire stock opened at $19.03 on Wednesday. The firm has a market capitalization of $2.37 billion, a PE ratio of 126.87, a price-to-earnings-growth ratio of 3.03 and a beta of 1.10. Flywire has a one year low of $15.19 and a one year high of $31.54. The stock’s 50 day moving average price is $20.94 and its 200 day moving average price is $18.59.

Institutional Trading of Flywire

Several hedge funds have recently bought and sold shares of FLYW. FMR LLC boosted its position in Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after acquiring an additional 326,120 shares during the period. Westfield Capital Management Co. LP raised its stake in shares of Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after purchasing an additional 1,006,516 shares in the last quarter. State Street Corp lifted its holdings in Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after purchasing an additional 145,894 shares during the period. Geode Capital Management LLC grew its position in Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after buying an additional 17,062 shares in the last quarter. Finally, Jennison Associates LLC grew its position in Flywire by 5.3% in the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after buying an additional 112,218 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.