Analysts Set Flywire Corporation (NASDAQ:FLYW) Price Target at $18.29

Shares of Flywire Corporation (NASDAQ:FLYW) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.7692.

FLYW has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. The Goldman Sachs Group lifted their price target on shares of Flywire from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Citigroup boosted their price target on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, BTIG Research upped their price target on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

Flywire Price Performance

Flywire stock opened at $18.13 on Wednesday. The stock’s 50 day moving average price is $16.42 and its 200 day moving average price is $14.11. Flywire has a 1-year low of $10.10 and a 1-year high of $18.98. The company has a market cap of $2.24 billion, a PE ratio of 78.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. The firm had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.Flywire’s revenue was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. On average, equities research analysts anticipate that Flywire will post 0.28 EPS for the current fiscal year.

Insider Activity at Flywire

In other Flywire news, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.26, for a total value of $763,000.00. Following the sale, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter Butterfield sold 6,528 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the transaction, the general counsel owned 652,152 shares of the company’s stock, valued at approximately $9,834,452.16. This represents a 0.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 410,391 shares of company stock valued at $6,700,493 in the last 90 days. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in FLYW. AQR Capital Management LLC purchased a new stake in shares of Flywire in the first quarter valued at about $271,000. Millennium Management LLC increased its stake in shares of Flywire by 15.1% during the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock worth $12,644,000 after purchasing an additional 175,007 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock worth $11,792,000 after purchasing an additional 159,239 shares during the last quarter. American Century Companies Inc. raised its position in shares of Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company’s stock worth $1,262,000 after purchasing an additional 7,357 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Flywire in the 2nd quarter valued at approximately $184,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.