Key Points
- Insider sale: Mohit Kansal sold 16,101 Flywire shares at an average price of $15.90, reducing his stake by 2.76%. After the transaction, he still owned 567,794 shares.
- Strong quarterly results: Flywire reported Q1 earnings of $0.10 per share, beating estimates of $0.03, while revenue rose 40.9% year over year to $184.0 million. The company also beat revenue expectations.
- Analyst sentiment remains positive: Several firms raised price targets, including BTIG to $20 and Morgan Stanley to $20, with the stock carrying an average analyst rating of Moderate Buy and an average target price of $18.17.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) insider Mohit Kansal sold 16,101 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $15.90, for a total value of $256,005.90. Following the transaction, the insider owned 567,794 shares in the company, valued at $9,027,924.60. This trade represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Flywire Stock Performance
Shares of NASDAQ:FLYW opened at $17.23 on Friday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 74.91, a P/E/G ratio of 1.32 and a beta of 1.30. The stock has a 50 day moving average price of $12.84 and a 200-day moving average price of $13.18. Flywire Corporation has a 52-week low of $9.97 and a 52-week high of $18.05.
Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm's revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, equities analysts forecast that Flywire Corporation will post 0.39 EPS for the current fiscal year.
Flywire News Summary
Here are the key news stories impacting Flywire this week:
Analysts Set New Price Targets
A number of research firms have recently weighed in on FLYW. BTIG Research upped their target price on shares of Flywire from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday. Stephens raised shares of Flywire from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $17.00 to $19.00 in a research report on Friday, January 16th. The Goldman Sachs Group restated a "neutral" rating and issued a $17.00 price objective on shares of Flywire in a report on Wednesday. Citigroup raised their target price on shares of Flywire from $13.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Morgan Stanley lifted their target price on shares of Flywire from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Flywire presently has an average rating of "Moderate Buy" and an average target price of $18.17.
View Our Latest Stock Report on FLYW
Hedge Funds Weigh In On Flywire
Several institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in shares of Flywire in the 4th quarter worth about $32,000. KBC Group NV purchased a new stake in Flywire during the 1st quarter valued at about $38,000. Leonteq Securities AG grew its position in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after purchasing an additional 2,577 shares during the last quarter. Covestor Ltd increased its stake in Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company's stock valued at $43,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after purchasing an additional 2,497 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.
About Flywire
(
Get Free Report)
Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.
Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.
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