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

Flywire Co. (NASDAQ:FLYW) – Equities research analysts at William Blair cut their Q2 2024 earnings estimates for Flywire in a research report issued to clients and investors on Wednesday, May 8th. William Blair analyst C. Kennedy now anticipates 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.

A number of other equities research analysts have also issued reports on the company. BTIG Research cut their target price on Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Flywire in a report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group cut their target price on shares of Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, UBS Group decreased their target price on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and an average target price of $31.60.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $17.68 on Friday. The company has a market capitalization of $2.17 billion, a PE ratio of -196.42, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. The stock has a fifty day moving average of $23.15 and a 200-day moving average of $23.10. Flywire has a one year low of $15.77 and a one year high of $35.80.

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

Insiders Place Their Bets

In other news, CTO David R. King sold 9,366 shares of the company’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 completion of the transaction, the chief technology officer now directly owns 621,568 shares in the company, valued at $16,968,806.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Flywire 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 sale, the general counsel now owns 214,678 shares in the company, valued at $5,860,709.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David R. King sold 9,366 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 $255,691.80. Following the completion of the sale, the chief technology officer now directly 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 a total of 141,800 shares of company stock valued at $3,743,582 in the last quarter. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Headlands Technologies LLC bought a new stake in Flywire during the 1st quarter worth approximately $46,000. Quest Partners LLC bought a new stake in shares of Flywire in the 4th quarter valued at about $52,000. RiverPark Advisors LLC raised its holdings in Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock worth $74,000 after purchasing an additional 589 shares during the period. Assetmark Inc. lifted its holdings in Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after acquiring an additional 733 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Flywire in the 4th quarter valued at approximately $176,000. Institutional investors own 95.90% 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.