Brokerages Set Flywire Co. (NASDAQ:FLYW) Price Target at $26.07

Shares of Flywire Co. (NASDAQ:FLYW) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $26.07.

Several equities research analysts have commented on the stock. B. Riley restated a “buy” rating and issued a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. BTIG Research lowered their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

Insider Buying and Selling at Flywire

In other news, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Flywire

Several institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC lifted its position in Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after buying an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after acquiring an additional 1,407,180 shares in the last quarter. Jennison Associates LLC boosted its position in Flywire by 129.7% during the first quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock valued at $46,170,000 after purchasing an additional 1,050,924 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Flywire in the second quarter valued at about $12,642,000. Finally, Blair William & Co. IL increased its position in Flywire by 33.4% in the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after purchasing an additional 453,183 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Price Performance

FLYW stock opened at $17.44 on Monday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -249.14, a PEG ratio of 7.47 and a beta of 0.95. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54. The firm has a fifty day moving average price of $17.11 and a two-hundred day moving average price of $17.52.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same period in the prior year, the company earned ($0.15) EPS. Flywire’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, analysts expect that Flywire will post 0.05 EPS 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.