Flywire (NASDAQ:FLYW) Price Target Increased to $33.00 by Analysts at Citigroup

Flywire (NASDAQ:FLYW – Get Rating) had its price target lifted by analysts at Citigroup from $31.00 to $33.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 19.39% from the company’s previous close.

Several other research firms have also issued reports on FLYW. Stephens cut their price target on shares of Flywire from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, November 9th. Raymond James upped their price target on shares of Flywire from $28.00 to $33.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 4th. The Goldman Sachs Group cut their price target on shares of Flywire from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Truist Financial increased their target price on shares of Flywire from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 20th. Finally, Wolfe Research increased their target price on shares of Flywire from $28.00 to $29.00 in a report on Thursday, January 5th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $31.00.

Flywire Stock Up 5.1 %

Shares of NASDAQ:FLYW opened at $27.64 on Thursday. Flywire has a 52-week low of $14.56 and a 52-week high of $32.88. The firm has a fifty day moving average of $25.46 and a 200 day moving average of $23.64. The firm has a market capitalization of $2.99 billion, a PE ratio of -74.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.44 and a current ratio of 3.44.

Flywire (NASDAQ:FLYW – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.10. Flywire had a negative net margin of 13.88% and a negative return on equity of 8.36%. The business had revenue of $73.05 million during the quarter, compared to analyst estimates of $65.50 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The company’s revenue was up 42.1% on a year-over-year basis. As a group, research analysts anticipate that Flywire will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 3,370 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $27.04, for a total value of $91,124.80. Following the completion of the transaction, the general counsel now directly owns 65,088 shares of the company’s stock, valued at $1,759,979.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Flywire news, Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $24.47, for a total transaction of $122,350.00. Following the completion of the transaction, the director now owns 16,354 shares of the company’s stock, valued at $400,182.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 3,370 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $27.04, for a total transaction of $91,124.80. Following the transaction, the general counsel now directly owns 65,088 shares of the company’s stock, valued at approximately $1,759,979.52. The disclosure for this sale can be found here. Insiders sold a total of 923,900 shares of company stock valued at $20,682,841 over the last three months. Corporate insiders own 37.50% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Flywire by 29.0% during the third quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock valued at $167,179,000 after purchasing an additional 1,635,222 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Flywire by 9.4% during the fourth quarter. Alliancebernstein L.P. now owns 5,709,945 shares of the company’s stock valued at $139,722,000 after purchasing an additional 488,622 shares in the last quarter. BlackRock Inc. increased its stake in shares of Flywire by 20.4% during the third quarter. BlackRock Inc. now owns 3,680,820 shares of the company’s stock valued at $84,512,000 after purchasing an additional 624,918 shares in the last quarter. Millennium Management LLC increased its stake in shares of Flywire by 34.2% during the fourth quarter. Millennium Management LLC now owns 2,566,268 shares of the company’s stock valued at $62,797,000 after purchasing an additional 653,610 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of Flywire by 165.7% during the fourth quarter. GW&K Investment Management LLC now owns 2,178,521 shares of the company’s stock valued at $53,309,000 after acquiring an additional 1,358,639 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.

Flywire Company Profile

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Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.