Truist Financial Boosts Flywire (NASDAQ:FLYW) Price Target to $13.00

Flywire (NASDAQ:FLYW) had its price target increased by equities researchers at Truist Financial from $12.00 to $13.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 19.93% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Flywire from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. B. Riley dropped their price objective on shares of Flywire from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, June 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a research note on Thursday. They issued a “hold” rating and a $12.00 price objective for the company. Royal Bank Of Canada dropped their target price on shares of Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup dropped their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.77.

Flywire Trading Down 3.6%

Shares of FLYW stock opened at $10.84 on Thursday. Flywire has a 52-week low of $8.20 and a 52-week high of $23.40. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 271.00, a P/E/G ratio of 1.40 and a beta of 1.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a fifty day moving average of $11.10 and a 200-day moving average of $12.86.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Flywire had a net margin of 0.97% and a return on equity of 1.57%. The company had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Activity

In other Flywire news, Director Edwin J. Santos sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.50, for a total value of $52,500.00. Following the completion of the sale, the director owned 16,990 shares in the company, valued at approximately $178,395. This trade represents a 22.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire in the 4th quarter valued at about $77,000. JT Stratford LLC acquired a new stake in Flywire in the 1st quarter valued at about $109,000. Dakota Wealth Management increased its position in Flywire by 8.7% in the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company’s stock valued at $127,000 after acquiring an additional 1,066 shares in the last quarter. AE Wealth Management LLC acquired a new stake in Flywire in the 1st quarter valued at about $130,000. Finally, Fox Run Management L.L.C. acquired a new stake in Flywire in the 1st quarter valued at about $153,000. Institutional investors and hedge funds 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.