Morgan Stanley Upgrades Flywire (NASDAQ:FLYW) to Overweight

Flywire (NASDAQ:FLYWGet Free Report) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Monday, MarketBeat reports. The brokerage currently has a $27.00 price objective on the stock. Morgan Stanley’s price target suggests a potential upside of 24.42% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Raymond James cut their price target on shares of Flywire from $44.00 to $35.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, November 8th. William Blair reiterated an “outperform” rating on shares of Flywire in a report on Wednesday, November 8th. Royal Bank of Canada restated an “outperform” rating and set a $41.00 price target on shares of Flywire in a report on Tuesday, December 5th. Truist Financial lowered their price objective on shares of Flywire from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Finally, The Goldman Sachs Group cut their target price on shares of Flywire from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $34.21.

View Our Latest Report on FLYW

Flywire Price Performance

Shares of FLYW opened at $21.70 on Monday. The business has a 50-day moving average of $22.34 and a 200-day moving average of $27.33. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -197.25 and a beta of 0.92. Flywire has a 1 year low of $18.65 and a 1 year high of $35.80.

Flywire (NASDAQ:FLYWGet Free Report) last released its earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The firm had revenue of $123.32 million for the quarter, compared to analyst estimates of $119.50 million. Flywire had a negative net margin of 2.92% and a negative return on equity of 1.96%. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. As a group, sell-side analysts anticipate that Flywire will post -0.17 EPS for the current year.

Insider Activity at Flywire

In other news, CTO David R. King sold 3,518 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $23.40, for a total value of $82,321.20. Following the transaction, the chief technology officer now owns 473,170 shares in the company, valued at $11,072,178. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO David R. King sold 3,518 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $23.40, for a total value of $82,321.20. Following the completion of the sale, the chief technology officer now owns 473,170 shares in the company, valued at approximately $11,072,178. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 7,679 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $23.40, for a total transaction of $179,688.60. Following the completion of the sale, the chief executive officer now owns 947,970 shares of the company’s stock, valued at approximately $22,182,498. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,107 shares of company stock valued at $506,489. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sei Investments Co. grew its position in Flywire by 4.9% during the second quarter. Sei Investments Co. now owns 327,752 shares of the company’s stock valued at $10,173,000 after buying an additional 15,183 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Flywire by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 364,292 shares of the company’s stock valued at $11,308,000 after acquiring an additional 21,652 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in shares of Flywire by 447.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 56,115 shares of the company’s stock worth $1,790,000 after purchasing an additional 45,868 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Flywire by 40.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,634,610 shares of the company’s stock worth $50,738,000 after purchasing an additional 469,982 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Flywire by 33.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,042,223 shares of the company’s stock valued at $32,350,000 after purchasing an additional 263,284 shares during the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.

Flywire Company Profile

(Get Free Report)

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

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Analyst Recommendations for Flywire (NASDAQ:FLYW)

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