Flywire Co. (NASDAQ:FLYW) to Post Q3 2024 Earnings of $0.17 Per Share, Seaport Res Ptn Forecasts

Flywire Co. (NASDAQ:FLYW) – Analysts at Seaport Res Ptn boosted their Q3 2024 earnings estimates for shares of Flywire in a report issued on Tuesday, August 6th. Seaport Res Ptn analyst J. Cantwell now expects that the company will earn $0.17 per share for the quarter, up from their previous estimate of $0.10. The consensus estimate for Flywire’s current full-year earnings is $0.06 per share. Seaport Res Ptn also issued estimates for Flywire’s FY2024 earnings at $0.06 EPS, Q2 2025 earnings at $0.03 EPS and FY2025 earnings at $0.33 EPS.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. During the same period in the previous year, the business posted ($0.15) EPS. The business’s revenue for the quarter was up 22.2% compared to the same quarter last year.

Other analysts have also recently issued research reports about the stock. William Blair reiterated an “outperform” rating on shares of Flywire in a research note on Wednesday, May 8th. Wedbush restated a “neutral” rating and issued a $18.00 price target on shares of Flywire in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their price target on Flywire from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada lowered their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and an average price target of $25.69.

Flywire Stock Down 3.8 %

FLYW opened at $18.00 on Friday. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -163.64, a price-to-earnings-growth ratio of 5.47 and a beta of 0.98. Flywire has a 52 week low of $15.19 and a 52 week high of $35.01. The business’s 50 day moving average is $17.13 and its two-hundred day moving average is $20.32.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC raised its stake in Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after buying an additional 1,407,180 shares during the period. Jennison Associates LLC boosted its position in Flywire by 129.7% during the first quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock worth $46,170,000 after acquiring an additional 1,050,924 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Flywire by 24.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock worth $101,553,000 after acquiring an additional 872,619 shares during the last quarter. Finally, Capital International Investors grew its stake in Flywire by 21.8% in the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock worth $62,819,000 after acquiring an additional 485,654 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.