Morgan Stanley Lowers Flywire (NASDAQ:FLYW) Price Target to $27.00

Flywire (NASDAQ:FLYW) had its target price reduced by analysts at Morgan Stanley from $32.00 to $27.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 37.83% from the stock’s current price.

Several other research analysts also recently issued reports on FLYW. UBS Group reiterated a “buy” rating and issued a $36.00 target price on shares of Flywire in a research note on Friday, October 20th. Seaport Res Ptn reiterated a “buy” rating on shares of Flywire in a research note on Thursday, October 12th. Stephens upped their target price on shares of Flywire from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of Flywire from $35.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, BTIG Research started coverage on shares of Flywire in a research note on Thursday, September 28th. They issued a “buy” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Flywire presently has an average rating of “Buy” and a consensus target price of $34.79.

Flywire Stock Performance

Shares of FLYW opened at $19.59 on Wednesday. The stock has a market cap of $2.20 billion, a PE ratio of -178.07 and a beta of 1.19. Flywire has a fifty-two week low of $18.65 and a fifty-two week high of $35.80. The firm’s 50-day simple moving average is $29.59 and its two-hundred day simple moving average is $30.60.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $123.32 million during the quarter, compared to analysts’ expectations of $119.50 million. Flywire had a negative return on equity of 2.25% and a negative net margin of 2.92%. Flywire’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. Equities research analysts predict that Flywire will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Flywire news, General Counsel Peter Butterfield sold 11,232 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $28.60, for a total value of $321,235.20. Following the transaction, the general counsel now directly owns 146,145 shares in the company, valued at $4,179,747. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Flywire news, CEO Michael Massaro sold 11,457 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $30.70, for a total value of $351,729.90. Following the transaction, the chief executive officer now directly owns 1,088,710 shares in the company, valued at $33,423,397. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 11,232 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $28.60, for a total transaction of $321,235.20. Following the completion of the transaction, the general counsel now owns 146,145 shares in the company, valued at $4,179,747. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 171,249 shares of company stock worth $5,171,355. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Flywire by 29.0% in the third quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock worth $167,179,000 after purchasing an additional 1,635,222 shares in the last quarter. BlackRock Inc. increased its stake in shares of Flywire by 58.7% in the second quarter. BlackRock Inc. now owns 6,055,457 shares of the company’s stock worth $187,961,000 after purchasing an additional 2,239,940 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Flywire by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 5,709,945 shares of the company’s stock worth $139,722,000 after purchasing an additional 488,622 shares in the last quarter. Eventide Asset Management LLC increased its stake in shares of Flywire by 1.1% in the second quarter. Eventide Asset Management LLC now owns 4,068,726 shares of the company’s stock worth $126,293,000 after purchasing an additional 43,438 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of Flywire in the third quarter worth $100,341,000. 92.55% of the stock is currently owned by institutional investors.

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.