Raymond James Cuts Flywire (NASDAQ:FLYW) Price Target to $33.00

Flywire (NASDAQ:FLYWGet Rating) had its price target trimmed by Raymond James from $39.00 to $33.00 in a research note released on Wednesday morning, The Fly reports.

FLYW has been the topic of several other research reports. Wells Fargo & Company assumed coverage on shares of Flywire in a research note on Monday, April 4th. They issued an overweight rating and a $41.00 price objective on the stock. Sumitomo Mitsui Financial Group assumed coverage on shares of Flywire in a research note on Wednesday, April 13th. They issued an outperform rating and a $40.00 price objective on the stock. Zacks Investment Research cut shares of Flywire from a buy rating to a hold rating in a research note on Tuesday, January 11th. The Goldman Sachs Group reduced their price objective on shares of Flywire from $44.00 to $37.00 and set a neutral rating on the stock in a research note on Friday, April 8th. Finally, Royal Bank of Canada cut their price target on shares of Flywire from $51.00 to $44.00 and set an outperform rating on the stock in a research report on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $40.83.

Shares of NASDAQ:FLYW opened at $20.18 on Wednesday. The company has a fifty day moving average of $28.03 and a 200-day moving average of $32.34. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.05. Flywire has a 52-week low of $16.30 and a 52-week high of $57.41.

Flywire (NASDAQ:FLYWGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $64.55 million for the quarter, compared to analyst estimates of $56.83 million. Flywire had a negative return on equity of 4.10% and a negative net margin of 13.72%. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.41) earnings per share. As a group, equities research analysts predict that Flywire will post -0.23 earnings per share for the current fiscal year.

In other news, Director Phillip John Riese sold 5,000 shares of the stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $25.52, for a total transaction of $127,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Rob Orgel sold 20,000 shares of the stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $31.13, for a total transaction of $622,600.00. Following the transaction, the chief operating officer now directly owns 126,019 shares in the company, valued at approximately $3,922,971.47. The disclosure for this sale can be found here. Insiders have sold a total of 100,505 shares of company stock worth $2,946,937 in the last three months.

Institutional investors and hedge funds have recently bought and sold shares of the stock. FourThought Financial LLC acquired a new stake in shares of Flywire in the 3rd quarter worth about $54,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Flywire in the 3rd quarter worth about $56,000. Citigroup Inc. acquired a new stake in shares of Flywire in the 3rd quarter worth about $60,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Flywire in the 3rd quarter worth about $156,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Flywire in the 3rd quarter worth about $219,000. Institutional investors own 76.06% of the company’s stock.

About Flywire (Get Rating)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.

Read More

The Fly logo

Analyst Recommendations for Flywire (NASDAQ:FLYW)

Receive News & Ratings for Flywire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flywire and related companies with MarketBeat.com's FREE daily email newsletter.