Flywire (NASDAQ:FLYW) PT Lowered to $26.00 at UBS Group

Flywire (NASDAQ:FLYW) had its price objective dropped by equities researchers at UBS Group from $34.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target indicates a potential upside of 59.31% from the company’s previous close.

Several other equities analysts also recently weighed in on FLYW. The Goldman Sachs Group raised their price target on shares of Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Truist Financial raised their target price on Flywire from $30.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Flywire in a report on Tuesday, February 6th. They set a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada upped their target price on shares of Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Finally, Oppenheimer initiated coverage on shares of Flywire in a research report on Tuesday, January 23rd. They set an “outperform” rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have issued 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 an average rating of “Moderate Buy” and an average target price of $33.53.

Flywire Stock Down 20.5 %

NASDAQ:FLYW traded down $4.22 during midday trading on Wednesday, hitting $16.32. The stock had a trading volume of 988,630 shares, compared to its average volume of 1,514,715. Flywire has a one year low of $15.97 and a one year high of $35.80. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -181.31, a PEG ratio of 11.18 and a beta of 1.09. The stock has a 50-day moving average of $23.59 and a 200 day moving average of $23.17.

Flywire (NASDAQ:FLYW) last issued its earnings results 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). The firm had revenue of $114.10 million during the quarter, compared to analysts’ expectations of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) EPS. On average, sell-side analysts anticipate that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Flywire

In other Flywire news, COO Rob Orgel sold 17,150 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the transaction, the chief operating officer now owns 468,285 shares of the company’s stock, valued at $12,784,180.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Flywire news, General Counsel Peter Butterfield sold 4,730 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $129,129.00. Following the completion of the transaction, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rob Orgel sold 17,150 shares of Flywire stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares in the company, valued at $12,784,180.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,800 shares of company stock worth $3,743,582. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Flywire in the first quarter valued at $46,000. Quest Partners LLC bought a new position in shares of Flywire during the 4th quarter valued at about $52,000. RiverPark Advisors LLC lifted its stake in Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after purchasing an additional 589 shares during the last quarter. Assetmark Inc. boosted its holdings in Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after buying an additional 733 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new position in Flywire in the fourth quarter worth approximately $176,000. 95.90% of the stock is 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.