Flywire (NASDAQ:FLYW) Upgraded by Stephens to Overweight Rating

Flywire (NASDAQ:FLYW) was upgraded by analysts at Stephens from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a $19.00 target price on the stock. Stephens’ price target suggests a potential upside of 37.46% from the stock’s previous close.

FLYW has been the topic of several other research reports. UBS Group upped their price objective on shares of Flywire from $13.50 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Citigroup raised Flywire to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a research note on Wednesday, October 8th. Wolfe Research restated an “outperform” rating and set a $19.00 price objective on shares of Flywire in a report on Wednesday, November 5th. Finally, Truist Financial increased their target price on Flywire from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.65.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $13.82 on Friday. The firm has a market cap of $1.69 billion, a PE ratio of -690.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53. Flywire has a 52 week low of $8.20 and a 52 week high of $21.31. The firm’s fifty day moving average is $14.07 and its 200-day moving average is $13.09.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.The company had revenue of $194.10 million during the quarter, compared to the consensus estimate of $180.07 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 27.6% compared to the same quarter last year. Sell-side analysts predict that Flywire will post 0.14 earnings per share for the current year.

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 13,327 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total value of $200,038.27. Following the completion of the sale, the general counsel owned 374,933 shares of the company’s stock, valued at $5,627,744.33. This represents 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 the SEC website. Also, Director Phillip John Riese sold 16,612 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the transaction, the director directly owned 234,493 shares in the company, valued at $3,536,154.44. This trade represents a 6.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 39,526 shares of company stock valued at $583,717. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Flywire by 194.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after acquiring an additional 2,167 shares in the last quarter. Covestor Ltd lifted its stake in shares of Flywire by 217.9% in the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after buying an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Flywire in the 3rd quarter worth about $67,000. Finally, CWM LLC lifted its holdings in Flywire by 850.9% in the second quarter. CWM LLC now owns 6,447 shares of the company’s stock valued at $75,000 after acquiring an additional 5,769 shares during the period. 95.90% of the stock is currently owned by institutional investors.

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.