Flywire Co. (NASDAQ:FLYW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.86.

FLYW has been the subject of several recent research reports. Citigroup reduced their price target on Flywire from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Wells Fargo & Company reduced their target price on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, May 6th. Royal Bank of Canada lowered their price target on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. UBS Group cut their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, BTIG Research lowered their target price on shares of Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nebula Research & Development LLC bought a new stake in Flywire during the 4th quarter worth $1,082,000. Bullseye Asset Management LLC grew its holdings in shares of Flywire by 123.4% during the fourth quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock worth $2,276,000 after purchasing an additional 54,306 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of Flywire in the fourth quarter valued at approximately $9,505,000. Primecap Management Co. CA raised its holdings in Flywire by 671.2% in the 4th quarter. Primecap Management Co. CA now owns 147,300 shares of the company’s stock valued at $3,410,000 after buying an additional 128,200 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Flywire by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after buying an additional 243,523 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Stock Performance

NASDAQ FLYW opened at $17.49 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of -158.99, a P/E/G ratio of 5.69 and a beta of 0.98. The firm has a 50-day moving average of $16.92 and a 200-day moving average of $20.54. Flywire has a 52-week low of $15.19 and a 52-week high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The company had revenue of $114.10 million for the quarter, compared to analyst estimates of $107.81 million. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. As a group, analysts predict that Flywire will post 0.06 EPS for the current fiscal year.

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.