A number of other equities analysts have also weighed in on FLYW. The Goldman Sachs Group increased their target price on Flywire to $32.00 in a research note on Monday, August 15th. Wells Fargo & Company increased their target price on Flywire from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, September 8th. Finally, Stephens assumed coverage on Flywire in a research note on Thursday, June 9th. They set an “overweight” rating and a $24.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $36.86.
Flywire Stock Performance
Shares of FLYW traded down $0.16 during mid-day trading on Thursday, reaching $23.91. The company’s stock had a trading volume of 995,468 shares, compared to its average volume of 888,522. Flywire has a 1-year low of $14.56 and a 1-year high of $57.41. The stock has a market cap of $2.59 billion, a P/E ratio of -68.31 and a beta of 1.68. The business has a 50-day simple moving average of $24.51 and a two-hundred day simple moving average of $24.01. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.
Flywire (NASDAQ:FLYW – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The business had revenue of $56.40 million during the quarter, compared to analyst estimates of $47.61 million. Flywire had a negative net margin of 14.98% and a negative return on equity of 7.37%. The business’s quarterly revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. As a group, equities research analysts anticipate that Flywire will post -0.34 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Phillip John Riese sold 5,000 shares of Flywire stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $23.06, for a total value of $115,300.00. Following the completion of the transaction, the director now directly owns 16,354 shares of the company’s stock, valued at approximately $377,123.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Flywire news, CEO Michael Massaro sold 4,830 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $24.80, for a total transaction of $119,784.00. Following the completion of the sale, the chief executive officer now directly owns 1,129,350 shares of the company’s stock, valued at approximately $28,007,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip John Riese sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $23.06, for a total value of $115,300.00. Following the sale, the director now directly owns 16,354 shares of the company’s stock, valued at $377,123.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,604,793 shares of company stock valued at $67,041,451. 37.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Flywire
Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in shares of Flywire by 226.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $37,000 after buying an additional 1,450 shares during the last quarter. FourThought Financial LLC lifted its stake in Flywire by 123.3% in the first quarter. FourThought Financial LLC now owns 2,563 shares of the company’s stock valued at $78,000 after purchasing an additional 1,415 shares during the last quarter. UBS Group AG lifted its stake in Flywire by 433.1% in the first quarter. UBS Group AG now owns 3,300 shares of the company’s stock valued at $101,000 after purchasing an additional 2,681 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Flywire in the second quarter valued at approximately $79,000. Finally, Bronson Point Management LLC purchased a new position in Flywire in the fourth quarter valued at approximately $247,000. Hedge funds and other institutional investors own 73.30% of the company’s stock.
Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Flywire, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Flywire wasn’t on the list.
While Flywire currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.