Flywire (NASDAQ:FLYW) Shares Up 4.4% – Here’s Why

Flywire Co. (NASDAQ:FLYW) shares shot up 4.4% on Monday . The company traded as high as $20.12 and last traded at $20.18. 378,595 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,489,774 shares. The stock had previously closed at $19.33.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FLYW. Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Morgan Stanley lifted their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James lifted their price objective on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Flywire Stock Performance

The company’s 50 day moving average price is $20.38 and its 200-day moving average price is $18.83. The company has a market cap of $2.48 billion, a PE ratio of 133.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last issued its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.16. The firm had revenue of $156.82 million for the quarter, compared to analyst estimates of $146.44 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. During the same period in the previous year, the company posted $0.08 earnings per share. Equities research analysts expect that Flywire Co. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can purchased a new stake in shares of Flywire during the second quarter worth $405,000. The Manufacturers Life Insurance Company lifted its holdings in Flywire by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,428 shares of the company’s stock worth $1,122,000 after purchasing an additional 8,034 shares in the last quarter. Algert Global LLC bought a new position in Flywire in the 2nd quarter worth about $180,000. Creative Planning purchased a new position in Flywire during the 2nd quarter valued at about $356,000. Finally, Quarry LP bought a new stake in shares of Flywire during the second quarter valued at about $26,000. 95.90% of the stock is owned by 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.