Flywire (NASDAQ:FLYW) PT Lowered to $30.00

Flywire (NASDAQ:FLYW) had its price objective cut by equities researchers at Wells Fargo & Company from $35.00 to $30.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 46.06% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Citigroup reduced their target price on Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. William Blair reiterated an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. The Goldman Sachs Group upped their target price on shares of Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Royal Bank of Canada lifted their price target on shares of Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Finally, Truist Financial upped their price objective on shares of Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.07.

Flywire Stock Performance

FLYW opened at $20.54 on Monday. The company has a market cap of $2.52 billion, a price-to-earnings ratio of -229.64, a PEG ratio of 11.18 and a beta of 1.09. Flywire has a one year low of $18.65 and a one year high of $35.80. The business’s fifty day moving average is $23.67 and its two-hundred day moving average is $23.23.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $100.55 million for the quarter, compared to analyst estimates of $88.52 million. During the same period in the previous year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 37.6% compared to the same quarter last year. On average, analysts predict that Flywire will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. Quest Partners LLC acquired a new stake in shares of Flywire during the fourth quarter valued at about $52,000. RiverPark Advisors LLC purchased a new stake in Flywire during the 3rd quarter worth approximately $83,000. Assetmark Inc. raised its position in shares of Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Flywire during the 3rd quarter valued at approximately $224,000. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in shares of Flywire during the fourth quarter worth approximately $176,000. 95.90% of the stock is owned by institutional investors and hedge funds.

About Flywire

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.