Flywire (NASDAQ:FLYW) PT Lowered to $34.00

Flywire (NASDAQ:FLYW) had its price objective dropped by stock analysts at Royal Bank of Canada from $41.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 97.90% from the stock’s previous close.

FLYW has been the subject of a number of other research reports. Oppenheimer initiated coverage on shares of Flywire in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price objective for the company. The Goldman Sachs Group lifted their target price on Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. William Blair reiterated an “outperform” rating on shares of Flywire in a research report on Wednesday. Truist Financial raised their target price on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded down $3.36 during mid-day trading on Wednesday, hitting $17.18. 10,555,438 shares of the company traded hands, compared to its average volume of 1,619,965. The firm’s 50 day simple moving average is $23.59 and its 200 day simple moving average is $23.17. The firm has a market cap of $2.11 billion, a P/E ratio of -188.53, a PEG ratio of 11.18 and a beta of 1.09. Flywire has a 52-week low of $15.77 and a 52-week high of $35.80.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results 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 for 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%. Flywire’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. Equities research analysts expect that Flywire will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Flywire

In related news, Director Phillip John Riese sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total value of $1,320,500.00. Following the completion of the transaction, the director now owns 232,037 shares of the company’s stock, valued at approximately $6,128,097.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Phillip John Riese sold 50,000 shares of Flywire 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 completion of the sale, the director now owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO David R. King sold 9,366 shares of the business’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,800 shares of company stock valued at $3,743,582. 5.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Flywire by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after buying an additional 243,523 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Flywire by 24.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after purchasing an additional 872,619 shares during the last quarter. Eventide Asset Management LLC lifted its position in shares of Flywire by 3.2% during the 4th quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock worth $97,306,000 after purchasing an additional 131,996 shares during the last quarter. Fred Alger Management LLC boosted its stake in Flywire by 3.2% during the 3rd quarter. Fred Alger Management LLC now owns 3,479,847 shares of the company’s stock valued at $110,972,000 after purchasing an additional 108,749 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in Flywire in the 3rd quarter valued at approximately $100,341,000. Institutional investors own 95.90% of the company’s stock.

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.