Flywire (NASDAQ:FLYW) Sees Large Volume Increase – Still a Buy?

Shares of Flywire Co. (NASDAQ:FLYW) saw unusually-strong trading volume on Thursday . Approximately 3,156,284 shares traded hands during trading, an increase of 108% from the previous session’s volume of 1,516,164 shares.The stock last traded at $18.46 and had previously closed at $19.16.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FLYW shares. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $18.00 in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Raymond James increased their target price on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley increased 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. Five 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 company. According to MarketBeat.com, Flywire has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Flywire Stock Performance

The company has a market cap of $2.39 billion, a PE ratio of 127.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. The stock has a 50 day moving average of $20.69 and a 200-day moving average of $18.75.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.16. The business had revenue of $156.82 million during 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 quarter last year, the business posted $0.08 EPS. Equities research analysts forecast that Flywire Co. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in shares of Flywire during the 2nd quarter valued at about $26,000. Advisors Asset Management Inc. grew its position in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. KBC Group NV grew its position in shares of Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after acquiring an additional 1,911 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Flywire during the 3rd quarter valued at about $149,000. Finally, Algert Global LLC acquired a new stake in shares of Flywire during the 2nd quarter valued at about $180,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.