The Goldman Sachs Group Cuts Flywire (NASDAQ:FLYW) Price Target to $11.00

Flywire (NASDAQ:FLYW) had its target price lowered by The Goldman Sachs Group from $15.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also commented on FLYW. Citigroup cut their price target on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a report on Monday, March 24th. Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price objective on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, UBS Group cut Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.92.

Flywire Stock Performance

Shares of Flywire stock opened at $9.10 on Wednesday. The firm has a 50-day simple moving average of $14.24 and a two-hundred day simple moving average of $17.52. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $23.90. The company has a market cap of $1.12 billion, a P/E ratio of 60.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Equities research analysts forecast that Flywire will post 0.14 EPS for the current year.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gretchen Howard purchased 8,889 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in shares of Flywire during the fourth quarter valued at about $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire in the 4th quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Flywire in the fourth quarter valued at approximately $77,000. KBC Group NV lifted its stake in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after purchasing an additional 1,911 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Flywire during the fourth quarter worth $104,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.