Flywire Co. (NASDAQ:FLYW) Receives $18.23 Average Price Target from Brokerages

Flywire Co. (NASDAQ:FLYW) has received an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.23.

Several research analysts have commented on FLYW shares. UBS Group cut shares of Flywire from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $15.00 in a report on Wednesday, February 26th. BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley reduced their target price on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th.

Insider Activity

In related news, Director Gretchen Howard acquired 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the purchase, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Flywire

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Flywire in the 4th quarter worth $30,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Flywire in the fourth quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flywire in the fourth quarter worth about $77,000. Advisors Asset Management Inc. lifted its position in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after purchasing an additional 1,911 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Stock Performance

Flywire stock opened at $9.50 on Thursday. Flywire has a 1 year low of $8.62 and a 1 year high of $24.97. The firm’s 50 day moving average price is $15.00 and its two-hundred day moving average price is $17.75. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 63.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

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

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.