William Blair Weighs in on Flywire Co.’s FY2024 Earnings (NASDAQ:FLYW)

Flywire Co. (NASDAQ:FLYW) – Equities research analysts at William Blair lowered their FY2024 EPS estimates for Flywire in a report released on Wednesday, August 7th. William Blair analyst C. Kennedy now expects that the company will post earnings of $0.00 per share for the year, down from their prior forecast of $0.10. William Blair has a “Outperform” rating on the stock. The consensus estimate for Flywire’s current full-year earnings is $0.06 per share. William Blair also issued estimates for Flywire’s FY2025 earnings at $0.38 EPS.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The firm had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same quarter last year, the firm earned ($0.15) EPS. The company’s revenue was up 22.2% on a year-over-year basis.

A number of other research firms have also recently commented on FLYW. JPMorgan Chase & Co. cut their price target on shares of Flywire from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, BTIG Research cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.69.

Flywire Trading Down 3.8 %

NASDAQ FLYW opened at $18.00 on Friday. The company’s 50-day moving average price is $17.13 and its 200-day moving average price is $20.32. The stock has a market cap of $2.24 billion, a PE ratio of -163.64, a PEG ratio of 5.47 and a beta of 0.98. Flywire has a 12 month low of $15.19 and a 12 month high of $35.01.

Institutional Trading of Flywire

Several hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC lifted its position in shares of Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after buying an additional 6,519,598 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock valued at $269,486,000 after buying an additional 100,704 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Flywire by 10.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock valued at $120,018,000 after purchasing an additional 450,760 shares during the last quarter. Eventide Asset Management LLC raised its position in shares of Flywire by 3.2% in the 4th quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock valued at $97,306,000 after purchasing an additional 131,996 shares during the last quarter. Finally, Capital International Investors raised its position in shares of Flywire by 21.8% in the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after purchasing an additional 485,654 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.