Citigroup Issues Pessimistic Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW) had its price target cut by stock analysts at Citigroup from $15.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 5.61% from the company’s previous close.

Several other analysts also recently weighed in on FLYW. The Goldman Sachs Group decreased their price target on shares of Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial set a $17.00 price objective on shares of Flywire in a research note on Tuesday, January 20th. Wolfe Research reissued an “outperform” rating and issued a $19.00 price objective on shares of Flywire in a research note on Wednesday, November 5th. UBS Group dropped their target price on Flywire from $15.50 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Royal Bank Of Canada lifted their price target on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.50.

Flywire Stock Performance

Shares of Flywire stock opened at $12.31 on Thursday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 123.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The stock has a 50 day moving average price of $12.97 and a 200-day moving average price of $13.23. Flywire has a one year low of $8.20 and a one year high of $15.25.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $105.56. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The company had revenue of $157.54 million for the quarter, compared to analyst estimates of $144.96 million. During the same period in the prior year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. Sell-side analysts predict that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, major shareholder Voss Capital, Lp bought 181,121 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were purchased at an average price of $14.15 per share, for a total transaction of $2,562,862.15. Following the transaction, the insider directly owned 9,625,009 shares of the company’s stock, valued at approximately $136,193,877.35. This represents a 1.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip John Riese sold 16,612 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the sale, the director directly owned 234,493 shares of the company’s stock, valued at $3,536,154.44. This represents a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders acquired 251,112 shares of company stock valued at $3,477,834 and sold 38,426 shares valued at $567,215. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently bought and sold shares of FLYW. Global Retirement Partners LLC purchased a new stake in shares of Flywire during the 4th quarter valued at approximately $32,000. Covestor Ltd lifted its stake in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after purchasing an additional 2,216 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock worth $38,000 after purchasing an additional 2,167 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Flywire during the 3rd quarter worth about $67,000. Finally, Daiwa Securities Group Inc. raised its holdings in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

About Flywire

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.