Flywire (NASDAQ:FLYW) Shares Gap Up - Should You Buy?

Flywire Co. (NASDAQ:FLYW - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $18.30, but opened at $20.59. Flywire shares last traded at $21.24, with a volume of 339,666 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Raymond James upped their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a "strong-buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Flywire from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $20.00 to $18.00 in a research report on Friday, October 11th. B. Riley reiterated a "buy" rating and issued a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Citigroup decreased their target price on shares of Flywire from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.50.

Flywire Stock Up 14.7 %

The business's 50-day moving average price is $17.12 and its 200-day moving average price is $17.48. The firm has a market capitalization of $2.63 billion, a PE ratio of -301.00, a price-to-earnings-growth ratio of 7.48 and a beta of 0.95.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The company had revenue of $103.68 million during the quarter, compared to analysts' expectations of $100.30 million. During the same period last year, the company earned ($0.15) earnings per share. Flywire's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts anticipate that Flywire Co. will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the transaction, the general counsel now owns 273,517 shares in the company, valued at $4,934,246.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO David R. King sold 3,353 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the sale, the chief technology officer now directly owns 620,184 shares of the company's stock, valued at approximately $11,188,119.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares of the company's stock, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock worth $66,000 after purchasing an additional 539 shares during the period. Oppenheimer Asset Management Inc. increased its position in Flywire by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company's stock worth $493,000 after purchasing an additional 702 shares during the period. Arizona State Retirement System increased its position in Flywire by 3.1% in the second quarter. Arizona State Retirement System now owns 30,475 shares of the company's stock worth $499,000 after purchasing an additional 908 shares during the period. Truist Financial Corp grew its position in shares of Flywire by 6.2% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company's stock worth $319,000 after buying an additional 1,128 shares during the period. Finally, Ascent Group LLC grew its position in shares of Flywire by 10.1% during the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company's stock worth $351,000 after buying an additional 1,300 shares during the period. 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.