The Goldman Sachs Group Issues Positive Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW) had its price objective hoisted by investment analysts at The Goldman Sachs Group from $22.00 to $27.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 18.47% from the stock’s previous close.

FLYW has been the topic of a number of other research reports. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a research report on Friday, October 11th. BTIG Research cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Flywire currently has an average rating of “Moderate Buy” and an average price target of $25.29.

Flywire Price Performance

Shares of Flywire stock traded up $0.08 during trading on Monday, hitting $22.79. The company’s stock had a trading volume of 291,364 shares, compared to its average volume of 1,405,847. Flywire has a 52 week low of $15.19 and a 52 week high of $31.54. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 151.93, a price-to-earnings-growth ratio of 4.38 and a beta of 0.95. The stock has a 50-day moving average price of $18.70 and a two-hundred day moving average price of $17.79.

Insider Transactions at Flywire

In related news, CEO Michael Massaro sold 8,629 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the transaction, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO David R. King sold 3,504 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $60,654.24. Following the transaction, the chief technology officer now directly owns 616,680 shares of the company’s stock, valued at $10,674,730.80. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,966 shares of company stock worth $480,143. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC lifted its holdings in shares of Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after acquiring an additional 6,519,598 shares during the last quarter. Primecap Management Co. CA increased its position in Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after purchasing an additional 1,407,180 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after buying an additional 1,006,516 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Flywire in the 2nd quarter worth approximately $12,642,000. Finally, Blair William & Co. IL grew its position in shares of Flywire by 33.4% in the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after buying an additional 453,183 shares during the last quarter. 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.