Raymond James Increases Flywire (NASDAQ:FLYW) Price Target to $27.00

Flywire (NASDAQ:FLYW) had its price target boosted by analysts at Raymond James from $23.00 to $27.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target would indicate a potential upside of 28.14% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. BTIG Research reduced their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Citigroup decreased their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, B. Riley reissued a “buy” rating and set a $30.00 target price on shares of Flywire in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Flywire Stock Up 15.1 %

Shares of Flywire stock traded up $2.77 during trading on Friday, hitting $21.07. The stock had a trading volume of 3,404,412 shares, compared to its average volume of 1,391,513. Flywire has a 1 year low of $15.19 and a 1 year high of $31.54. The stock has a 50 day simple moving average of $17.12 and a 200 day simple moving average of $17.48. The company has a market capitalization of $2.64 billion, a PE ratio of -301.00, a P/E/G ratio of 7.48 and a beta of 0.95.

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

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at $4,934,246.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. SG Americas Securities LLC acquired a new stake in Flywire during the first quarter valued at approximately $363,000. Oppenheimer Asset Management Inc. boosted its stake in Flywire by 3.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after buying an additional 702 shares in the last quarter. Swiss National Bank grew its position in Flywire by 0.8% in the first quarter. Swiss National Bank now owns 212,300 shares of the company’s stock valued at $5,267,000 after acquiring an additional 1,600 shares during the period. Headlands Technologies LLC acquired a new position in Flywire during the first quarter worth $46,000. Finally, ProShare Advisors LLC lifted its holdings in shares of Flywire by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,104 shares of the company’s stock valued at $474,000 after acquiring an additional 1,504 shares during the period. 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.