Flywire (NASDAQ:FLYW) PT Lowered to $34.00

Flywire (NASDAQ:FLYW) had its target price decreased by Royal Bank of Canada from $41.00 to $34.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 92.31% from the stock’s current price.

A number of other analysts also recently issued reports on FLYW. The Goldman Sachs Group lifted their price objective on shares of Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Citigroup lowered their price target on shares of Flywire from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial increased their price objective on shares of Flywire from $30.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research report on Wednesday. Finally, UBS Group lowered their price target on Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.60.

Flywire Stock Performance

Shares of Flywire stock opened at $17.68 on Wednesday. The firm has a fifty day moving average of $23.15 and a two-hundred day moving average of $23.10. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -196.42, a PEG ratio of 11.18 and a beta of 1.09. Flywire has a 52 week low of $15.77 and a 52 week high of $35.80.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, research analysts forecast that Flywire will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 4,730 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $129,129.00. Following the sale, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Flywire news, General Counsel Peter Butterfield sold 4,730 shares of Flywire stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $129,129.00. Following the transaction, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the transaction, 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 141,800 shares of company stock valued at $3,743,582 over the last quarter. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Flywire during the 1st quarter worth about $46,000. Quest Partners LLC bought a new stake in shares of Flywire during the 4th quarter valued at about $52,000. RiverPark Advisors LLC acquired a new stake in Flywire during the third quarter worth approximately $83,000. Assetmark Inc. increased its holdings in Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after purchasing an additional 733 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Flywire in the third quarter valued at approximately $224,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.