Flywire (NASDAQ:FLYW – Get Free Report)‘s stock had its “hold” rating reissued by analysts at Truist Financial in a note issued to investors on Friday,Benzinga reports. They presently have a $17.00 target price on the stock, down from their prior target price of $18.00. Truist Financial’s price target points to a potential upside of 5.39% from the stock’s current price.
A number of other equities analysts have also commented on FLYW. Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Zacks Research downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Raymond James Financial reissued an “outperform” rating and issued a $22.00 price objective on shares of Flywire in a research note on Wednesday, May 27th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Citigroup raised their price objective on Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $18.69.
Flywire Stock Performance
Flywire (NASDAQ:FLYW – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period last year, the firm earned ($0.03) earnings per share. Flywire’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts predict that Flywire will post 0.28 earnings per share for the current fiscal year.
Insider Activity at Flywire
In related news, General Counsel Peter Butterfield sold 6,528 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.08, for a total value of $98,442.24. Following the sale, the general counsel owned 652,152 shares of the company’s stock, valued at $9,834,452.16. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Massaro sold 50,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the completion of the sale, the chief executive officer directly owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 410,391 shares of company stock valued at $6,700,493 in the last quarter. Insiders own 5.00% of the company’s stock.
Institutional Investors Weigh In On Flywire
Several large investors have recently modified their holdings of FLYW. Wasatch Advisors LP bought a new position in shares of Flywire during the 2nd quarter worth about $44,026,000. Handelsbanken Fonder AB raised its stake in Flywire by 26.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 33,400 shares of the company’s stock worth $587,000 after buying an additional 6,900 shares during the period. Glenmede Trust Co. NA bought a new stake in shares of Flywire during the first quarter valued at approximately $137,000. Essential Partners LLC raised its position in shares of Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Flywire by 42.4% in the 1st quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock worth $1,706,000 after purchasing an additional 43,651 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than Flywire
- Tesla Just Delivered Record Sales—So Why Did the Stock Sell Off?
- Microsoft Earnings Are Coming—But Azure and CapEx Will Decide the Reaction
- Premium Retail’s Stress Test Is Separating Winners From Losers
- D-Wave Quantum or a Quantum ETF: Which Is the Better Bet?
Receive News & Ratings for Flywire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flywire and related companies with MarketBeat.com's FREE daily email newsletter.
