William Blair Analysts Reduce Earnings Estimates for Flywire Co. (NASDAQ:FLYW)

Flywire Co. (NASDAQ:FLYWGet Rating) – Equities researchers at William Blair cut their Q2 2022 earnings per share estimates for Flywire in a report issued on Wednesday, May 11th. William Blair analyst R. Napoli now anticipates that the company will post earnings of ($0.13) per share for the quarter, down from their prior estimate of ($0.10). William Blair also issued estimates for Flywire’s Q3 2022 earnings at ($0.01) EPS, Q4 2022 earnings at ($0.11) EPS, FY2022 earnings at ($0.35) EPS and FY2023 earnings at ($0.18) EPS.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Flywire from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, April 8th. Wells Fargo & Company dropped their price target on Flywire from $41.00 to $36.00 in a report on Wednesday, May 11th. Royal Bank of Canada decreased their price objective on Flywire from $51.00 to $44.00 and set an “outperform” rating on the stock in a report on Thursday, March 3rd. Sumitomo Mitsui Financial Group assumed coverage on Flywire in a research note on Wednesday, April 13th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Raymond James reduced their target price on Flywire from $39.00 to $33.00 in a report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $40.83.

NASDAQ:FLYW opened at $19.29 on Monday. The company has a market cap of $2.06 billion and a P/E ratio of -40.19. Flywire has a twelve month low of $16.30 and a twelve month high of $57.41. The business has a 50 day moving average price of $27.74 and a two-hundred day moving average price of $32.05. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.05.

Flywire (NASDAQ:FLYWGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Flywire had a negative return on equity of 4.10% and a negative net margin of 13.72%. The firm had revenue of $64.55 million during the quarter, compared to analyst estimates of $56.83 million. During the same quarter last year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 43.5% on a year-over-year basis.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Flywire by 337.1% in the 4th quarter. BlackRock Inc. now owns 3,094,269 shares of the company’s stock worth $117,767,000 after acquiring an additional 2,386,350 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Flywire by 487.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,827,976 shares of the company’s stock valued at $69,573,000 after acquiring an additional 1,516,892 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Flywire during the 4th quarter valued at approximately $37,603,000. Invesco Ltd. increased its stake in shares of Flywire by 101.3% during the 4th quarter. Invesco Ltd. now owns 1,637,886 shares of the company’s stock worth $62,338,000 after purchasing an additional 824,372 shares during the last quarter. Finally, State Street Corp lifted its stake in Flywire by 515.8% in the fourth quarter. State Street Corp now owns 948,966 shares of the company’s stock valued at $36,118,000 after purchasing an additional 794,851 shares during the last quarter. Institutional investors own 76.06% of the company’s stock.

In other Flywire news, Director Phillip John Riese sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $31.16, for a total transaction of $155,800.00. Following the transaction, the director now directly owns 7,292 shares in the company, valued at approximately $227,218.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rob Orgel sold 20,000 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $31.13, for a total transaction of $622,600.00. Following the completion of the sale, the chief operating officer now owns 126,019 shares of the company’s stock, valued at $3,922,971.47. The disclosure for this sale can be found here. Insiders sold a total of 100,505 shares of company stock worth $2,946,937 in the last quarter.

About Flywire (Get Rating)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.

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Earnings History and Estimates for Flywire (NASDAQ:FLYW)

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