Flywire (NASDAQ:FLYW) Posts Earnings Results, Misses Estimates By $0.01 EPS

Flywire (NASDAQ:FLYW) posted its quarterly earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01), Briefing.com reports. The company had revenue of $114.10 million during the quarter, compared to analysts’ expectations of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) EPS.

Flywire Stock Performance

Shares of FLYW traded down $4.29 during trading hours on Wednesday, hitting $16.25. The stock had a trading volume of 1,162,872 shares, compared to its average volume of 1,512,622. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -181.31, a PEG ratio of 11.18 and a beta of 1.09. The firm has a 50-day moving average price of $23.59 and a 200 day moving average price of $23.17. Flywire has a fifty-two week low of $15.97 and a fifty-two week high of $35.80.

Insiders Place Their Bets

In related news, CEO Michael Massaro sold 28,822 shares of Flywire stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the completion of the transaction, the chief executive officer now owns 1,743,032 shares in the company, valued at approximately $47,584,773.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Flywire news, CEO Michael Massaro sold 28,822 shares of the 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 $786,840.60. Following the completion of the transaction, the chief executive officer now owns 1,743,032 shares of the company’s stock, valued at $47,584,773.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 50,000 shares of Flywire stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total value of $1,320,500.00. Following the completion of the sale, the director now directly owns 232,037 shares in the company, valued at $6,128,097.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 141,800 shares of company stock worth $3,743,582. Company insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Flywire in a research note on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price objective on the stock. Truist Financial lifted their price objective on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Royal Bank of Canada increased their price objective on shares of Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Citigroup lowered their price target on shares of Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average price target of $33.53.

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