Are Flywire Corp (NASDAQ: FLYW) Shares Worth Your Money In 2023?

In the last trading session, 1.25 million Flywire Corp (NASDAQ:FLYW) shares changed hands as the company’s beta touched 0.95. With the company’s per share price at $23.33 changed hands at $1.07 or 4.81% during last session, the market valuation stood at $2.83B. FLYW’s last price was a discount, traded about -53.45% off its 52-week high of $35.80. The share price had its 52-week low at $18.65, which suggests the last value was 20.06% up since then. When we look at Flywire Corp’s average trading volume, we note the 10-day average is 3.08 million shares, with the 3-month average coming to 1.23 million.

Analysts gave the Flywire Corp (FLYW) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.12. If we narrow down to specifics, the data shows that 0 out of 17 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended FLYW as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. Flywire Corp’s EPS for the current quarter is expected to be -$0.08.

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Flywire Corp (NASDAQ:FLYW) trade information

Instantly FLYW was in green as seen at the end of in last trading. With action 13.14%, the performance over the past five days has been green. The jump to weekly highs of 23.37 on Monday, 11/20/23 added 4.81% to the stock’s daily price. The company’s shares are showing year-to-date downside of -4.66%, with the 5-day performance at 13.14% in the green. However, in the 30-day time frame, Flywire Corp (NASDAQ:FLYW) is -16.23% down. Looking at the short shares, we see there were 6.97 million shares sold at short interest cover period of 7.91 days.

The consensus price target for the stock as assigned by Wall Street analysts is $33.19, meaning bulls need an upside of 29.71% from its current market value. According to analyst projections, FLYW’s forecast low is $27.00 with $41.00 as the target high. To hit the forecast high, the stock’s price needs a -75.74% plunge from its current level, while the stock would need to soar -15.73% for it to hit the projected low.

Flywire Corp (FLYW) estimates and forecasts

Data shows that the Flywire Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.44% over the past 6 months, a 50.00% in annual growth rate that is considerably higher than the industry average of 9.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Flywire Corp will fall -700.00%, while the growth in revenue is estimated to hit 100.00% for the next quarter. Year-over-year growth is forecast to reach 32.10% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $90.52 million. 12 analysts are of the opinion that Flywire Corp’s revenue for the quarter ending Mar 2024 will be $117.87 million. The company’s revenue for the corresponding quarters a year ago was $73.05 million and $94.36 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 23.90%. The estimates for the next quarter sales put growth at 24.90%.

The 2023 estimates are for Flywire Corp earnings to increase by 54.13%.

FLYW Dividends

Flywire Corp is expected to release its next quarterly earnings report on November 07.

Flywire Corp (NASDAQ:FLYW)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.35% of Flywire Corp shares while 90.63% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 92.81%. There are 90.63% institutions holding the Flywire Corp stock share, with Temasek Holdings (Private) Limited the top institutional holder. As of Jun 29, 2023, the company held 8.98% of the shares, roughly 10.64 million FLYW shares worth $330.13 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.80% or 9.24 million shares worth $286.78 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Mutual Fund Ser Tr-Eventide Gilead Fund and Vanguard Total Stock Market Index Fund. With 3.78 million shares estimated at $117.25 million under it, the former controlled 3.19% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.64% of the shares, roughly 3.12 million shares worth around $96.86 million.

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