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

Flywire Co. (NASDAQ:FLYW) shares saw strong trading volume on Thursday . 3,156,284 shares changed hands during mid-day 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group raised their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.38.

Flywire Stock Up 4.0 %

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 business has a 50-day simple moving average of $20.69 and a 200-day simple moving average of $18.75.

Flywire (NASDAQ:FLYW) last announced its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.16. The company had revenue of $156.82 million for 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 in the previous year, the company earned $0.08 earnings per share. As a group, equities research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently modified their holdings of FLYW. Quarry LP acquired a new position in shares of Flywire in the second quarter worth $26,000. Advisors Asset Management Inc. grew its stake in shares of 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 acquiring an additional 539 shares in the last quarter. KBC Group NV grew its stake in shares of Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Flywire in the third quarter worth $149,000. Finally, Algert Global LLC acquired a new position in shares of Flywire in the second quarter worth $180,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.