Brokerages Set Flywire Corporation (NASDAQ:FLYW) Target Price at $15.58

Flywire Corporation (NASDAQ:FLYW) has received a consensus rating of “Hold” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $15.5833.

A number of equities analysts have weighed in on FLYW shares. Morgan Stanley upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $17.00 in a report on Monday, March 2nd. The Goldman Sachs Group cut their target price on Flywire from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. Zacks Research upgraded Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup lowered their price target on Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Flywire from a “hold” rating to a “buy” rating in a report on Saturday, February 28th.

Flywire Price Performance

NASDAQ FLYW opened at $12.39 on Thursday. The company has a market cap of $1.50 billion, a P/E ratio of 123.91, a P/E/G ratio of 1.08 and a beta of 1.28. Flywire has a 12 month low of $8.20 and a 12 month high of $15.25. The company has a 50-day moving average of $12.64 and a 200-day moving average of $13.26.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $105.56. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The business had revenue of $157.54 million for the quarter, compared to analysts’ expectations of $144.96 million. During the same period last year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, equities research analysts anticipate that Flywire will post 0.14 EPS for the current year.

Insider Buying and Selling at Flywire

In other Flywire news, major shareholder Voss Capital, Lp bought 181,121 shares of Flywire stock in a transaction that occurred on Tuesday, December 30th. The shares were acquired at an average price of $14.15 per share, for a total transaction of $2,562,862.15. Following the acquisition, the insider owned 9,625,009 shares of the company’s stock, valued at $136,193,877.35. The trade was a 1.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip John Riese sold 16,612 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the completion of the sale, the director owned 234,493 shares of the company’s stock, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have acquired 251,112 shares of company stock valued at $3,477,834 and have sold 39,315 shares valued at $573,620. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

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

About Flywire

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.