Wells Fargo & Company Trims Flywire (NASDAQ:FLYW) Target Price to $30.00

Flywire (NASDAQ:FLYW) had its price target lowered by equities research analysts at Wells Fargo & Company from $35.00 to $30.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 46.06% from the stock’s current price.

Several other research analysts also recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft initiated coverage on Flywire in a research note on Tuesday, February 6th. They set a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada lifted their target price on shares of Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group upped their price target on shares of Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Oppenheimer initiated coverage on shares of Flywire in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.07.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $20.54 on Monday. Flywire has a fifty-two week low of $18.65 and a fifty-two week high of $35.80. The company’s 50-day moving average is $23.67 and its 200 day moving average is $23.23. The company has a market capitalization of $2.52 billion, a P/E ratio of -229.64, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $100.55 million during the quarter, compared to the consensus estimate of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The company’s revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, research analysts predict that Flywire will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the sale, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Flywire news, CEO Michael Massaro sold 13,043 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David R. King sold 9,366 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the sale, the chief technology officer now owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The disclosure for this sale can be found here. Insiders sold a total of 141,800 shares of company stock valued at $3,743,582 in the last quarter. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its holdings in Flywire by 118.6% during the 3rd quarter. Raymond James & Associates now owns 235,540 shares of the company’s stock valued at $7,511,000 after buying an additional 127,810 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Flywire by 133.2% during the third quarter. Bank of New York Mellon Corp now owns 843,046 shares of the company’s stock worth $26,885,000 after purchasing an additional 481,467 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Flywire by 19.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,119 shares of the company’s stock worth $546,000 after purchasing an additional 2,805 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Flywire by 447.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 56,115 shares of the company’s stock valued at $1,790,000 after purchasing an additional 45,868 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Flywire by 40.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,498,653 shares of the company’s stock valued at $47,792,000 after purchasing an additional 428,543 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other 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, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.