Brokerages Set Flywire Co. (NASDAQ:FLYW) Target Price at $26.07

Flywire Co. (NASDAQ:FLYW) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $26.07.

Several equities analysts have recently weighed in on FLYW shares. Royal Bank of Canada decreased their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft cut their price target on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Citigroup lowered their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flywire in a research note on Wednesday, October 2nd.

Flywire Trading Up 0.1 %

FLYW stock opened at $17.44 on Monday. Flywire has a 12-month low of $15.19 and a 12-month high of $31.54. The business’s 50-day moving average is $17.11 and its 200 day moving average is $17.56. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -249.14, a PEG ratio of 7.72 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The business’s revenue was up 22.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, equities analysts forecast that Flywire will post 0.05 EPS for the current fiscal year.

Insider Activity at Flywire

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the transaction, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Flywire news, COO Rob Orgel sold 3,824 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Massaro sold 8,629 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the sale, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently modified their holdings of FLYW. Quarry LP acquired a new position in shares of Flywire during the second quarter worth about $26,000. Headlands Technologies LLC acquired a new position in Flywire during the 1st quarter worth approximately $46,000. Daiwa Securities Group Inc. purchased a new stake in shares of Flywire in the 2nd quarter valued at approximately $64,000. Advisors Asset Management Inc. raised its holdings in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Flywire during the 3rd quarter worth $149,000. Institutional investors and hedge funds 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.