Analysts Set Flywire Co. (NASDAQ:FLYW) Price Target at $18.23

Flywire Co. (NASDAQ:FLYW) has earned an average recommendation of “Hold” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.92.

FLYW has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company decreased their target price on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. UBS Group lowered Flywire from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. Finally, Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th.

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gretchen Howard bought 8,889 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the acquisition, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Flywire during the 4th quarter worth $35,579,000. Voss Capital LP acquired a new position in Flywire during the fourth quarter worth about $30,621,000. Teacher Retirement System of Texas purchased a new stake in shares of Flywire in the fourth quarter valued at about $24,363,000. Jennison Associates LLC grew its position in shares of Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of Flywire by 62.1% during the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after purchasing an additional 1,049,888 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Trading Up 2.8 %

Shares of FLYW opened at $9.83 on Thursday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 65.53, a PEG ratio of 1.41 and a beta of 1.17. The firm’s fifty day simple moving average is $14.62 and its 200-day simple moving average is $17.64. Flywire has a twelve month low of $8.62 and a twelve month high of $24.33.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, analysts predict that Flywire will post 0.14 earnings per share for the current fiscal year.

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.