Flywire (NASDAQ:FLYW) Given New $11.00 Price Target at The Goldman Sachs Group

Flywire (NASDAQ:FLYW) had its price target cut by equities researchers at The Goldman Sachs Group from $15.00 to $11.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 10.89% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Morgan Stanley dropped their target price on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Finally, Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.92.

Flywire Price Performance

NASDAQ FLYW traded up $0.36 during trading hours on Wednesday, hitting $9.92. The company had a trading volume of 596,001 shares, compared to its average volume of 1,607,061. The firm’s 50 day moving average is $14.81 and its 200 day moving average is $17.69. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 66.13, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $24.33.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company 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%. On average, equities analysts anticipate that Flywire will post 0.14 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Arizona State Retirement System raised its holdings in shares of Flywire by 1.6% during the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after buying an additional 513 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Flywire by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock worth $261,000 after purchasing an additional 802 shares during the period. Bullseye Asset Management LLC grew its position in Flywire by 0.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after buying an additional 1,000 shares in the last quarter. Bayesian Capital Management LP increased its stake in Flywire by 6.9% during the 4th quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock valued at $414,000 after buying an additional 1,300 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of Flywire by 12.3% during the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock worth $219,000 after buying an additional 1,463 shares in the last quarter. 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.