Flywire (NASDAQ:FLYW) PT Lowered to $27.00 at BTIG Research

Flywire (NASDAQ:FLYW) had its price objective dropped by analysts at BTIG Research from $34.00 to $27.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 60.24% from the company’s current price.

Several other research analysts also recently commented on the stock. UBS Group reduced their price target on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. increased their price objective on Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Citigroup decreased their target price on Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Royal Bank of Canada raised their price target on Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.87.

Flywire Price Performance

Shares of NASDAQ:FLYW traded down $3.69 during trading hours on Wednesday, hitting $16.85. 8,135,788 shares of the company’s stock traded hands, compared to its average volume of 1,593,904. The firm has a market capitalization of $2.07 billion, a P/E ratio of -182.87, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. The business has a fifty day moving average price of $23.59 and a 200-day moving average price of $23.17. Flywire has a 1 year low of $15.77 and a 1 year high of $35.80.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $114.10 million for the quarter, compared to analysts’ expectations of $107.81 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. Flywire’s revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Flywire will post 0.03 earnings per share for the current year.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 4,730 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the transaction, the general counsel now owns 214,678 shares of the company’s stock, valued at $5,860,709.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CTO David R. King sold 9,366 shares of the company’s stock in a transaction 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 sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 4,730 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $129,129.00. Following the transaction, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock worth $3,743,582 over the last 90 days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in shares of Flywire by 118.6% during the 3rd quarter. Raymond James & Associates now owns 235,540 shares of the company’s stock valued at $7,511,000 after purchasing an additional 127,810 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Flywire by 133.2% in the third quarter. Bank of New York Mellon Corp now owns 843,046 shares of the company’s stock valued at $26,885,000 after buying an additional 481,467 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Flywire by 19.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,119 shares of the company’s stock valued at $546,000 after buying an additional 2,805 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Flywire by 447.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 56,115 shares of the company’s stock worth $1,790,000 after acquiring an additional 45,868 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Flywire by 40.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,498,653 shares of the company’s stock worth $47,792,000 after acquiring an additional 428,543 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other 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.