Flywire (NASDAQ:FLYW) Earns “Outperform” Rating from William Blair

William Blair reaffirmed their outperform rating on shares of Flywire (NASDAQ:FLYW) in a research note issued to investors on Wednesday morning, RTT News reports.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Flywire from an overweight rating to an equal weight rating and boosted their price objective for the stock from $27.00 to $30.00 in a research note on Friday, March 1st. Wells Fargo & Company reduced their price target on Flywire from $35.00 to $30.00 and set an overweight rating for the company in a research report on Monday. The Goldman Sachs Group raised their price objective on Flywire from $29.00 to $34.00 and gave the company a buy rating in a research report on Wednesday, February 28th. UBS Group boosted their target price on shares of Flywire from $33.00 to $34.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Finally, Oppenheimer started coverage on shares of Flywire in a report on Tuesday, January 23rd. They issued an outperform rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $32.20.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $17.24 on Wednesday. The stock has a 50 day moving average price of $23.36 and a 200 day moving average price of $23.13. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -191.53, a PEG ratio of 11.18 and a beta of 1.09. Flywire has a 52-week low of $15.77 and a 52-week high of $35.80.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $114.10 million for the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. Flywire’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Analysts forecast that Flywire will post 0.03 earnings per share for the current year.

Insider Buying and Selling at Flywire

In other news, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the transaction, the chief technology officer now owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Phillip John Riese sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the sale, the director now directly owns 232,037 shares in the company, valued at $6,128,097.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David R. King sold 9,366 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the transaction, the chief technology officer now owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The disclosure for this sale can be found here. Insiders sold a total of 141,800 shares of company stock worth $3,743,582 over the last three months. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Flywire by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after buying an additional 243,523 shares during the last quarter. William Blair Investment Management LLC raised its stake in Flywire by 8.8% during the 1st quarter. William Blair Investment Management LLC now owns 5,212,192 shares of the company’s stock worth $129,314,000 after acquiring an additional 419,549 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Flywire by 24.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after acquiring an additional 872,619 shares during the last quarter. Eventide Asset Management LLC boosted its stake in Flywire by 3.2% in the fourth quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock valued at $97,306,000 after acquiring an additional 131,996 shares in the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Flywire by 3.2% during the third quarter. Fred Alger Management LLC now owns 3,479,847 shares of the company’s stock worth $110,972,000 after purchasing an additional 108,749 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Company Profile

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, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.