Flywire (NASDAQ:FLYW) PT Lowered to $27.00 at BTIG Research

Flywire (NASDAQ:FLYW) had its target price trimmed by BTIG Research from $34.00 to $27.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on FLYW. The Goldman Sachs Group boosted their target price on shares of Flywire from $29.00 to $34.00 and gave the company a buy rating in a report on Wednesday, February 28th. Royal Bank of Canada increased their target price on Flywire from $36.00 to $41.00 and gave the stock an outperform rating in a research report on Wednesday, February 28th. Oppenheimer started coverage on Flywire in a research report on Tuesday, January 23rd. They set an outperform rating and a $25.00 price target for the company. Wells Fargo & Company dropped their price target on Flywire from $35.00 to $30.00 and set an overweight rating for the company in a research note on Monday. Finally, Truist Financial boosted their target price on Flywire from $30.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $31.60.

Flywire Price Performance

FLYW traded up $0.58 on Wednesday, reaching $17.82. 977,347 shares of the stock were exchanged, compared to its average volume of 1,626,369. Flywire has a fifty-two week low of $15.77 and a fifty-two week high of $35.80. The firm has a market capitalization of $2.19 billion, a PE ratio of -191.53, a PEG ratio of 11.18 and a beta of 1.09. The company’s 50-day moving average price is $23.36 and its 200 day moving average price is $23.13.

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

Insider Activity

In other Flywire news, COO Rob Orgel sold 17,150 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 468,285 shares in the company, valued at $12,784,180.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Rob Orgel sold 17,150 shares of the business’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 transaction of $468,195.00. Following the completion of the transaction, the chief operating officer now owns 468,285 shares in the company, valued at approximately $12,784,180.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip John Riese sold 50,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total value of $1,320,500.00. Following the completion of the sale, the director now directly owns 232,037 shares in the company, valued at $6,128,097.17. 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Flywire by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after buying an additional 243,523 shares during the last quarter. William Blair Investment Management LLC raised its stake in Flywire by 8.8% during the 1st quarter. William Blair Investment Management LLC now owns 5,212,192 shares of the company’s stock valued at $129,314,000 after acquiring an additional 419,549 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Flywire by 24.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock worth $101,553,000 after acquiring an additional 872,619 shares during the period. Eventide Asset Management LLC grew its stake in shares of Flywire by 3.2% in the fourth quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock worth $97,306,000 after purchasing an additional 131,996 shares in the last quarter. Finally, Fred Alger Management LLC lifted its holdings in Flywire by 3.2% in the third quarter. Fred Alger Management LLC now owns 3,479,847 shares of the company’s stock worth $110,972,000 after purchasing an additional 108,749 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

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.