Flywire (NASDAQ:FLYW) Announces Quarterly Earnings Results

Flywire (NASDAQ:FLYW) issued its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01), Briefing.com reports. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The company had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The company’s revenue was up 20.9% on a year-over-year basis.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded up $0.02 during trading on Friday, hitting $17.70. 77,773 shares of the stock were exchanged, compared to its average volume of 1,642,759. Flywire has a 1-year low of $15.77 and a 1-year high of $35.80. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -196.42, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. The company’s fifty day simple moving average is $23.15 and its 200-day simple moving average is $23.10.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several research reports. The Goldman Sachs Group decreased their target price on Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their target price on Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial raised their target price on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Morgan Stanley cut Flywire from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $27.00 to $30.00 in a research note on Friday, March 1st. Finally, Oppenheimer started coverage on Flywire in a research report on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.60.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 4,730 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $129,129.00. Following the sale, the general counsel now owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Flywire news, CTO David R. King sold 9,366 shares of Flywire stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the transaction, the chief technology officer now owns 621,568 shares in the company, valued at approximately $16,968,806.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 4,730 shares of Flywire stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the transaction, the general counsel now owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,800 shares of company stock valued at $3,743,582. 5.00% of the stock is owned by corporate insiders.

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.