Flywire (NASDAQ:FLYW) Stock Rating Upgraded by Wall Street Zen

Flywire (NASDAQ:FLYW) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued research reports about the company. Citigroup lowered their target price on Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Wolfe Research restated an “outperform” rating and issued a $19.00 target price on shares of Flywire in a report on Wednesday, November 5th. Morgan Stanley began coverage on shares of Flywire in a research note on Tuesday, February 24th. They issued an “equal weight” rating and a $15.00 target price on the stock. Finally, UBS Group dropped their price target on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Flywire has a consensus rating of “Hold” and a consensus price target of $15.50.

Flywire Stock Performance

FLYW stock opened at $12.31 on Friday. The company has a market capitalization of $1.50 billion, a PE ratio of 123.11, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. Flywire has a one year low of $8.20 and a one year high of $15.25. The company’s 50 day moving average price is $12.97 and its two-hundred day moving average price is $13.25.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating the consensus estimate of ($0.01) by $105.56. The company had revenue of $157.54 million for the quarter, compared to analyst estimates of $144.96 million. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) EPS. On average, research analysts predict that Flywire will post 0.14 EPS for the current year.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 13,327 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total transaction of $200,038.27. Following the transaction, the general counsel owned 374,933 shares in the company, valued at $5,627,744.33. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 16,612 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the completion of the transaction, the director directly owned 234,493 shares of the company’s stock, valued at approximately $3,536,154.44. The trade was a 6.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 251,112 shares of company stock valued at $3,477,834 and have sold 38,426 shares valued at $567,215. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Flywire by 18.3% in the 4th quarter. Invesco Ltd. now owns 176,827 shares of the company’s stock worth $2,504,000 after acquiring an additional 27,296 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Flywire in the fourth quarter worth $166,000. Wellington Management Group LLP raised its holdings in Flywire by 43.8% in the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock worth $68,367,000 after purchasing an additional 1,470,011 shares in the last quarter. Numerai GP LLC purchased a new position in Flywire during the fourth quarter valued at $362,000. Finally, Interval Partners LP boosted its holdings in shares of Flywire by 188.5% during the 4th quarter. Interval Partners LP now owns 667,942 shares of the company’s stock valued at $9,458,000 after buying an additional 436,385 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.