Flywire (NASDAQ:FLYW) Trading Up 4.4% – Here’s Why

Flywire Co. (NASDAQ:FLYW) shares traded up 4.4% on Monday . The company traded as high as $20.12 and last traded at $20.18. 378,595 shares were traded during trading, a decline of 75% from the average session volume of 1,489,774 shares. The stock had previously closed at $19.33.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FLYW shares. Citigroup reduced their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. The Goldman Sachs Group increased their target price on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Flywire Trading Down 0.5 %

The firm has a 50-day moving average price of $20.27 and a 200-day moving average price of $18.86. The stock has a market capitalization of $2.45 billion, a PE ratio of 131.47, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.16. The firm had revenue of $156.82 million during the quarter, compared to analyst estimates of $146.44 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. During the same period in the previous year, the business posted $0.08 EPS. Sell-side analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flywire

Several large investors have recently bought and sold shares of FLYW. Quarry LP purchased a new position in shares of Flywire during the 2nd quarter worth $26,000. Global Retirement Partners LLC bought a new position in shares of Flywire in the fourth quarter worth about $30,000. Arcadia Investment Management Corp MI purchased a new position in shares of Flywire during the 4th quarter valued at about $48,000. Advisors Asset Management Inc. grew its stake in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. Finally, KBC Group NV increased its holdings in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.