William Blair Weighs in on Flywire Co.’s Q3 2023 Earnings (NASDAQ:FLYW)

Posted by Defense World Staff on Aug 12th, 2023

Flywire Co. (NASDAQ:FLYW – Free Report) – Research analysts at William Blair lowered their Q3 2023 earnings estimates for shares of Flywire in a research report issued to clients and investors on Wednesday, August 9th. William Blair analyst R. Napoli now expects that the company will earn $0.10 per share for the quarter, down from their previous forecast of $0.13. The consensus estimate for Flywire’s current full-year earnings is ($0.15) per share.

Flywire (NASDAQ:FLYW – Get Free Report) last issued its quarterly earnings results on Tuesday, August 8th. The company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). Flywire had a negative net margin of 7.45% and a negative return on equity of 5.35%. The firm had revenue of $84.87 million during the quarter, compared to the consensus estimate of $73.53 million. During the same period in the prior year, the firm earned ($0.22) EPS. The business’s revenue was up 50.1% on a year-over-year basis.

Several other equities analysts also recently issued reports on FLYW. Truist Financial lifted their price target on shares of Flywire from $35.00 to $40.00 in a report on Wednesday, July 19th. Raymond James lifted their price target on shares of Flywire from $36.00 to $44.00 and gave the company a “strong-buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of Flywire from $39.00 to $41.00 in a report on Friday, June 2nd. Citigroup boosted their target price on shares of Flywire from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Morgan Stanley boosted their target price on shares of Flywire from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $36.83.

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Flywire Stock Performance

Shares of Flywire stock opened at $30.63 on Friday. The firm’s 50-day simple moving average is $31.89 and its 200-day simple moving average is $29.29. Flywire has a twelve month low of $17.16 and a twelve month high of $35.80. The firm has a market cap of $3.39 billion, a P/E ratio of -133.17 and a beta of 1.13.

Insider Activity

In related news, CTO David R. King sold 2,450 shares of the stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $35.55, for a total transaction of $87,097.50. Following the completion of the transaction, the chief technology officer now owns 276,204 shares in the company, valued at $9,819,052.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Flywire news, CTO David R. King sold 2,450 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $35.55, for a total transaction of $87,097.50. Following the sale, the chief technology officer now directly owns 276,204 shares of the company’s stock, valued at $9,819,052.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David R. King sold 996 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $32.51, for a total transaction of $32,379.96. Following the completion of the transaction, the chief technology officer now directly owns 377,658 shares in the company, valued at $12,277,661.58. The disclosure for this sale can be found here. Insiders sold 1,633,031 shares of company stock worth $50,171,667 over the last quarter. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLYW. Arcadia Investment Management Corp MI acquired a new stake in Flywire in the 4th quarter valued at $145,000. Assetmark Inc. grew its holdings in shares of Flywire by 129.3% during the fourth quarter. Assetmark Inc. now owns 3,054 shares of the company’s stock worth $75,000 after purchasing an additional 1,722 shares in the last quarter. Yarbrough Capital LLC boosted its stake in Flywire by 238.0% in the first quarter. Yarbrough Capital LLC now owns 26,366 shares of the company’s stock worth $774,000 after buying an additional 18,566 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Flywire by 5.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,500 shares of the company’s stock valued at $306,000 after purchasing an additional 590 shares during the period. Finally, Hamilton Lane Advisors LLC raised its holdings in shares of Flywire by 86.2% during the fourth quarter. Hamilton Lane Advisors LLC now owns 100,437 shares of the company’s stock valued at $2,458,000 after acquiring an additional 46,483 shares in the last quarter. Institutional investors own 86.21% of the company’s stock.

About Flywire

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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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.