UBS Group Trims Flywire (NASDAQ:FLYW) Target Price to $26.00

Flywire (NASDAQ:FLYW) had its target price lowered by UBS Group from $34.00 to $26.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 59.31% from the stock’s previous close.

Several other research firms have also recently commented on FLYW. JPMorgan Chase & Co. raised their target price on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Wells Fargo & Company reduced their price objective on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial upped their price objective on shares of Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.53.

Flywire Stock Down 20.5 %

Shares of NASDAQ FLYW traded down $4.22 during trading on Wednesday, hitting $16.32. 988,630 shares of the company traded hands, compared to its average volume of 1,514,715. The firm has a market capitalization of $2.00 billion, a P/E ratio of -181.31, a P/E/G ratio of 11.18 and a beta of 1.09. The company has a 50-day moving average price of $23.59 and a 200-day moving average price of $23.17. Flywire has a 1 year low of $15.97 and a 1 year high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $114.10 million for the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. Flywire’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS. Research analysts predict that Flywire will post 0.03 EPS for the current fiscal year.

Insider Activity at Flywire

In other Flywire news, CEO Michael Massaro sold 28,822 shares of Flywire stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the transaction, the chief executive officer now directly owns 1,743,032 shares of the company’s stock, valued at approximately $47,584,773.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Massaro sold 28,822 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the completion of the transaction, the chief executive officer now owns 1,743,032 shares in the company, valued at approximately $47,584,773.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Phillip John Riese sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the completion of the sale, the director now owns 232,037 shares in the company, valued at approximately $6,128,097.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,800 shares of company stock valued at $3,743,582. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Amalgamated Bank lifted its position in Flywire by 3.3% in the fourth quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after buying an additional 486 shares during the last quarter. Primecap Management Co. CA lifted its position in Flywire by 2.7% during the third quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock valued at $609,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System boosted its holdings in Flywire by 2.1% in the third quarter. Arizona State Retirement System now owns 24,802 shares of the company’s stock worth $791,000 after acquiring an additional 501 shares in the last quarter. RiverPark Advisors LLC grew its holdings in shares of 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 buying an additional 589 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Flywire by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after purchasing an additional 702 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.