Flywire (NASDAQ:FLYW) Price Target Raised to $12.00

Flywire (NASDAQ:FLYW) had its price objective increased by The Goldman Sachs Group from $10.00 to $12.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $9.00 target price (down previously from $16.00) on shares of Flywire in a report on Monday, April 14th. Royal Bank of Canada decreased their target price on Flywire from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Wednesday. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wells Fargo & Company decreased their price target on shares of Flywire from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Wolfe Research restated a “peer perform” rating on shares of Flywire in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Flywire presently has an average rating of “Hold” and an average target price of $15.62.

Flywire Stock Performance

NASDAQ:FLYW opened at $10.89 on Thursday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 72.60, a PEG ratio of 1.41 and a beta of 1.22. Flywire has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The stock has a fifty day moving average price of $9.57 and a 200-day moving average price of $16.12.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Flywire’s revenue was up 17.0% compared to the same quarter last year. Research analysts predict that Flywire will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at $2,495,414.88. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Jennison Associates LLC increased its stake in Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares in the last quarter. Geode Capital Management LLC raised its holdings in Flywire by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after buying an additional 28,944 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of Flywire by 62.1% in the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after buying an additional 1,049,888 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Flywire by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company’s stock worth $40,543,000 after acquiring an additional 21,818 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.