Flywire (NASDAQ:FLYW) Releases Quarterly Earnings Results

Flywire (NASDAQ:FLYW) released its quarterly earnings data on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01), Briefing.com reports. 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 quarter last year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis.

Flywire Price Performance

Flywire stock opened at $20.54 on Wednesday. Flywire has a fifty-two week low of $18.65 and a fifty-two week high of $35.80. The firm has a market capitalization of $2.52 billion, a PE ratio of -228.20, a P/E/G ratio of 11.18 and a beta of 1.09. The company’s 50-day moving average is $23.59 and its 200-day moving average is $23.17.

Insider Activity at Flywire

In other Flywire news, COO Rob Orgel sold 17,150 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 value of $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares in the company, valued at $12,784,180.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Peter Butterfield sold 4,730 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were 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 document filed with the SEC, which can be accessed through this link. Also, COO Rob Orgel sold 17,150 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 $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares of the company’s stock, valued at $12,784,180.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,800 shares of company stock worth $3,743,582. Insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley cut shares of Flywire from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $27.00 to $30.00 in a report on Friday, March 1st. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research note on Wednesday, February 28th. Citigroup dropped their price target on Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Wells Fargo & Company reduced their price objective on Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.07.

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.