Brokerages Set Flywire Co. (NASDAQ:FLYW) Price Target at $18.23

Shares of Flywire Co. (NASDAQ:FLYW) have earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $18.23.

A number of research firms have recently issued reports on FLYW. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Citigroup decreased their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Finally, Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th.

Insider Buying and Selling at Flywire

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

Hedge Funds Weigh In On Flywire

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in Flywire during the 4th quarter worth about $30,000. Arcadia Investment Management Corp MI bought a new stake in shares of Flywire during the fourth quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flywire in the fourth quarter valued at approximately $77,000. Advisors Asset Management Inc. lifted its holdings in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Finally, KBC Group NV boosted its stake in Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after acquiring an additional 1,911 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Price Performance

Shares of Flywire stock opened at $9.50 on Thursday. The company has a market cap of $1.17 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The firm has a fifty day moving average price of $15.00 and a two-hundred day moving average price of $17.75. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $24.97.

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

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.