Brokerages Set Flywire Co. (NASDAQ:FLYW) Price Target at $34.27

Flywire Co. (NASDAQ:FLYW) has been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $32.20.

Several research firms have recently commented on FLYW. BTIG Research dropped their price objective on shares of Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group raised their target price on Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Flywire in a research report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday.

Flywire Price Performance

Flywire stock opened at $17.24 on Monday. Flywire has a 1-year low of $15.77 and a 1-year high of $35.80. The company’s 50-day moving average is $23.59 and its 200 day moving average is $23.17. The firm has a market capitalization of $2.12 billion, a P/E ratio of -188.53, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm 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 for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. Research analysts anticipate that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, Director Phillip John Riese sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the transaction, the director now owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO David R. King sold 9,366 shares of Flywire 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 $255,691.80. Following the sale, the chief technology officer now owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip John Riese sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total value of $1,320,500.00. Following the sale, the director now directly owns 232,037 shares of the company’s stock, valued at approximately $6,128,097.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,800 shares of company stock worth $3,743,582. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. lifted its position in Flywire by 44.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 15,120 shares of the company’s stock valued at $375,000 after buying an additional 4,620 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Flywire by 8.8% in the 1st quarter. William Blair Investment Management LLC now owns 5,212,192 shares of the company’s stock valued at $129,314,000 after acquiring an additional 419,549 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Flywire by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 19,104 shares of the company’s stock worth $474,000 after acquiring an additional 1,504 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Flywire during the 1st quarter worth approximately $46,000. Finally, Swiss National Bank increased its holdings in Flywire by 0.8% in the 1st quarter. Swiss National Bank now owns 212,300 shares of the company’s stock valued at $5,267,000 after purchasing an additional 1,600 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.