Wells Fargo & Company Trims Flywire (NASDAQ:FLYW) Target Price to $30.00

Flywire (NASDAQ:FLYW) had its price objective lowered by Wells Fargo & Company from $35.00 to $30.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on the stock. Morgan Stanley lowered shares of Flywire from an overweight rating to an equal weight rating and increased their target price for the stock from $27.00 to $30.00 in a report on Friday, March 1st. Truist Financial increased their target price on shares of Flywire from $30.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Flywire in a report on Tuesday, February 6th. They issued a buy rating and a $27.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Flywire from $29.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, William Blair reiterated an outperform rating on shares of Flywire in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Flywire presently has a consensus rating of Moderate Buy and a consensus target price of $32.20.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $17.24 on Monday. The company’s 50 day simple moving average is $23.59 and its 200 day simple moving average is $23.17. 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 $2.12 billion, a P/E ratio of -188.53, a P/E/G ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $107.81 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts expect that Flywire will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO David R. King sold 9,366 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 $255,691.80. Following the transaction, the chief technology officer now directly owns 621,568 shares in the company, valued at approximately $16,968,806.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the transaction, the chief executive officer now owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,800 shares of company stock worth $3,743,582. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently bought and sold shares of FLYW. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Flywire by 44.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 15,120 shares of the company’s stock worth $375,000 after acquiring an additional 4,620 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Flywire by 8.8% in the first quarter. William Blair Investment Management LLC now owns 5,212,192 shares of the company’s stock valued at $129,314,000 after purchasing an additional 419,549 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Flywire by 8.5% in the first quarter. ProShare Advisors LLC now owns 19,104 shares of the company’s stock valued at $474,000 after purchasing an additional 1,504 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Flywire during the 1st quarter worth about $46,000. Finally, Swiss National Bank boosted its holdings in shares of Flywire by 0.8% during the 1st quarter. Swiss National Bank now owns 212,300 shares of the company’s stock worth $5,267,000 after buying an additional 1,600 shares during the period. Institutional investors own 95.90% of the company’s stock.

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.