UK markets closed
  • FTSE 100

    7,500.89
    +34.98 (+0.47%)
     
  • FTSE 250

    20,338.96
    +93.53 (+0.46%)
     
  • AIM

    933.20
    +4.84 (+0.52%)
     
  • GBP/EUR

    1.1820
    +0.0002 (+0.02%)
     
  • GBP/USD

    1.2139
    -0.0064 (-0.52%)
     
  • BTC-GBP

    20,155.19
    +232.92 (+1.17%)
     
  • CMC Crypto 200

    574.64
    +3.36 (+0.59%)
     
  • S&P 500

    4,280.15
    +72.88 (+1.73%)
     
  • DOW

    33,761.05
    +424.38 (+1.27%)
     
  • CRUDE OIL

    91.88
    -2.46 (-2.61%)
     
  • GOLD FUTURES

    1,818.90
    +11.70 (+0.65%)
     
  • NIKKEI 225

    28,546.98
    +727.65 (+2.62%)
     
  • HANG SENG

    20,175.62
    +93.19 (+0.46%)
     
  • DAX

    13,795.85
    +101.34 (+0.74%)
     
  • CAC 40

    6,553.86
    +9.19 (+0.14%)
     

Flyware (FLYW) Moves 7.1% Higher: Will This Strength Last?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Flyware (FLYW) shares soared 7.1% in the last trading session to close at $20.58. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.8% loss over the past four weeks.

Flywire extended its rally for the fifth straight day, driven by optimism over the ongoing recovery in the financial transaction services space. The streak follows a massive industry-wide panic selling, which made financial transaction services stocks attractive again. FLYW boasts a platform that enables payment flows across multiple currencies and different payment types at a time when demand for digital transactions is rising.

This payments company is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -6.3%. Revenues are expected to be $46.91 million, up 26.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Flyware, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FLYW going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Flyware is a member of the Zacks Financial Transaction Services industry. One other stock in the same industry, Western Union (WU), finished the last trading session 4.9% higher at $16.69. WU has returned -9.7% over the past month.

Western Union's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.41. Compared to the company's year-ago EPS, this represents a change of -14.6%. Western Union currently boasts a Zacks Rank of #5 (Strong Sell).


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Flywire Corporation (FLYW) : Free Stock Analysis Report
 
The Western Union Company (WU) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting