B. Riley Reiterates “Buy” Rating for Flywire (NASDAQ:FLYW)

Flywire (NASDAQ:FLYW)‘s stock had its “buy” rating reiterated by B. Riley in a report issued on Wednesday, Benzinga reports. They currently have a $30.00 price target on the stock. B. Riley’s price objective indicates a potential upside of 89.04% from the stock’s current price. B. Riley also issued estimates for Flywire’s Q3 2024 earnings at $0.17 EPS and FY2025 earnings at $0.32 EPS.

FLYW has been the topic of a number of other reports. Wells Fargo & Company decreased their price target on Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Citigroup decreased their price target on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. BTIG Research decreased their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.21.

Flywire Stock Performance

Shares of Flywire stock opened at $15.87 on Wednesday. Flywire has a one year low of $15.19 and a one year high of $31.61. The stock’s fifty day moving average is $17.51 and its 200 day moving average is $18.57. The stock has a market cap of $1.97 billion, a P/E ratio of -144.27, a P/E/G ratio of 5.42 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. Flywire’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.15) earnings per share. Analysts predict that Flywire will post 0.06 EPS for the current year.

Insider Buying and Selling

In related news, CTO David R. King sold 3,504 shares of Flywire stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the transaction, the chief technology officer now owns 616,680 shares in the company, valued at $10,674,730.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Flywire news, COO Rob Orgel sold 3,824 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the transaction, the chief operating officer now owns 473,648 shares in the company, valued at $8,198,846.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David R. King sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the transaction, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,966 shares of company stock worth $480,143. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FLYW. William Blair Investment Management LLC raised its stake in shares of Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after acquiring an additional 6,519,598 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock valued at $269,486,000 after acquiring an additional 100,704 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Flywire by 10.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock valued at $120,018,000 after acquiring an additional 450,760 shares in the last quarter. Capital International Investors raised its stake in shares of Flywire by 21.8% during the fourth quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after acquiring an additional 485,654 shares in the last quarter. Finally, Primecap Management Co. CA raised 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 acquiring an additional 1,407,180 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.