Flywire (NASDAQ:FLYW) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Flywire (NASDAQ:FLYW) in a report released on Thursday,Benzinga reports. Royal Bank of Canada currently has a $25.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Raymond James boosted their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Morgan Stanley increased their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, The Goldman Sachs Group raised their price objective on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Four equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Flywire Price Performance

Shares of FLYW stock opened at $18.72 on Thursday. The stock has a 50 day simple moving average of $20.87 and a 200-day simple moving average of $18.51. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 124.80, a PEG ratio of 3.03 and a beta of 1.08.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Quarry LP purchased a new position in shares of Flywire during the 2nd quarter worth $26,000. Headlands Technologies LLC boosted its stake in Flywire by 82.3% during the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after buying an additional 1,509 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire during the second quarter valued at about $64,000. Advisors Asset Management Inc. raised its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Flywire in the 3rd quarter worth approximately $149,000. 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.