Shares of Flywire Co. (NASDAQ:FLYW – Get Free Report) have been assigned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $36.69.
A number of brokerages recently weighed in on FLYW. Truist Financial boosted their price objective on shares of Flywire from $35.00 to $40.00 in a research report on Wednesday, July 19th. Morgan Stanley boosted their price objective on shares of Flywire from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 2nd. Stephens upped their target price on shares of Flywire from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Royal Bank of Canada upped their target price on shares of Flywire from $34.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, Bank of America upped their target price on shares of Flywire from $32.00 to $36.00 in a research report on Wednesday, May 10th.
Get Our Latest Stock Analysis on FLYW
Insider Activity at Flywire
In related news, General Counsel Peter Butterfield sold 11,232 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $33.21, for a total transaction of $373,014.72. Following the transaction, the general counsel now owns 109,521 shares in the company, valued at $3,637,192.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Massaro sold 11,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $31.95, for a total transaction of $366,051.15. Following the completion of the sale, the chief executive officer now directly owns 1,065,796 shares in the company, valued at $34,052,182.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter Butterfield sold 11,232 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $33.21, for a total transaction of $373,014.72. Following the sale, the general counsel now owns 109,521 shares of the company’s stock, valued at $3,637,192.41. The disclosure for this sale can be found here. Insiders have sold 506,303 shares of company stock worth $15,823,954 over the last quarter. 5.00% of the stock is currently owned by company insiders.
Institutional Trading of Flywire
A number of large investors have recently added to or reduced their stakes in FLYW. Envestnet Asset Management Inc. boosted its stake in Flywire by 52.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,655 shares of the company’s stock worth $295,000 after purchasing an additional 3,312 shares during the period. PNC Financial Services Group Inc. boosted its stake in Flywire by 27.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock worth $309,000 after purchasing an additional 2,182 shares during the period. MetLife Investment Management LLC boosted its stake in Flywire by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 34,947 shares of the company’s stock worth $1,069,000 after purchasing an additional 12,461 shares during the period. Vanguard Group Inc. boosted its stake in Flywire by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock worth $154,082,000 after purchasing an additional 37,622 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Flywire in the 1st quarter worth approximately $3,147,000. 92.55% of the stock is currently owned by institutional investors.
Flywire Stock Performance
Shares of Flywire stock opened at $33.60 on Wednesday. Flywire has a 1 year low of $17.16 and a 1 year high of $35.80. The firm’s 50-day simple moving average is $32.13 and its 200-day simple moving average is $30.00. The firm has a market cap of $3.77 billion, a PE ratio of -146.09 and a beta of 1.13.
Flywire (NASDAQ:FLYW – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). Flywire had a negative net margin of 7.45% and a negative return on equity of 5.35%. The business had revenue of $84.87 million during the quarter, compared to the consensus estimate of $73.53 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The company’s revenue for the quarter was up 50.1% compared to the same quarter last year. On average, equities analysts predict that Flywire will post -0.17 earnings per share for the current year.
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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.
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