Flywire (NASDAQ:FLYW) Price Target Raised to $21.00 at JPMorgan Chase & Co.

Flywire (NASDAQ:FLYW) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $18.00 to $21.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 23.46% from the stock’s current price.

A number of other research analysts have also commented on the company. Wells Fargo & Company lowered their price objective on Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. BTIG Research cut their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. William Blair reissued an “outperform” rating on shares of Flywire in a research note on Wednesday, May 8th. UBS Group decreased their price objective on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada decreased their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.92.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded down $0.18 during mid-day trading on Tuesday, hitting $17.01. 77,534 shares of the company traded hands, compared to its average volume of 1,515,171. The firm has a market cap of $2.11 billion, a P/E ratio of -154.91, a PEG ratio of 5.47 and a beta of 0.98. Flywire has a 52-week low of $15.19 and a 52-week high of $35.01. The firm’s 50 day simple moving average is $17.19 and its 200 day simple moving average is $20.15.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results 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 2.63% and a negative return on equity of 1.56%. The firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter last year, the firm posted ($0.15) earnings per share. Flywire’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts expect that Flywire will post 0.06 EPS for the current fiscal year.

Institutional Trading of Flywire

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in Flywire during the 2nd quarter valued at about $26,000. Headlands Technologies LLC purchased a new stake in Flywire during the first quarter valued at approximately $46,000. Quest Partners LLC acquired a new position in Flywire during the 4th quarter valued at approximately $52,000. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire in the second quarter worth $64,000. Finally, Advisors Asset Management Inc. boosted its holdings in Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after buying an additional 954 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.