Flywire (NASDAQ:FLYW) Price Target Cut to $26.00 by Analysts at Citigroup

Flywire (NASDAQ:FLYW) had its price target reduced by analysts at Citigroup from $27.00 to $26.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 37.20% from the stock’s previous close.

FLYW has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Morgan Stanley increased their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Raymond James upped their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and an average price target of $25.36.

Flywire Price Performance

Shares of NASDAQ:FLYW traded down $0.06 during trading on Tuesday, hitting $18.95. 688,207 shares of the company were exchanged, compared to its average volume of 1,293,263. The company has a market cap of $2.36 billion, a PE ratio of 126.33, a P/E/G ratio of 3.03 and a beta of 1.10. Flywire has a 52-week low of $15.19 and a 52-week high of $31.54. The stock has a 50 day moving average of $20.91 and a 200 day moving average of $18.57.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after buying an additional 17,062 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after purchasing an additional 112,218 shares during the period. Curi RMB Capital LLC purchased a new stake in shares of Flywire during the 3rd quarter valued at about $1,143,000. FMR LLC boosted its holdings in shares of Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after buying an additional 326,120 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after buying an additional 1,006,516 shares during the last quarter. 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.