Flywire (NASDAQ:FLYW) Price Target Raised to $26.00

Flywire (NASDAQ:FLYW) had its target price raised by research analysts at Deutsche Bank Aktiengesellschaft from $23.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 14.49% from the company’s previous close.

FLYW has been the topic of a number of other research reports. Citigroup reduced their target price on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. B. Riley reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. BTIG Research reduced their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.14.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $22.71 on Monday. Flywire has a 1 year low of $15.19 and a 1 year high of $31.54. The company has a market capitalization of $2.83 billion, a P/E ratio of 151.40, a P/E/G ratio of 4.38 and a beta of 0.95. The company has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $17.78.

Insiders Place Their Bets

In related news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the sale, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the transaction, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock worth $480,143 in the last quarter. 3.90% of the stock is owned by company insiders.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. Harbor Capital Advisors Inc. raised its position in shares of Flywire by 139.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock worth $1,949,000 after acquiring an additional 69,304 shares in the last quarter. Dakota Wealth Management acquired a new stake in Flywire during the second quarter worth approximately $199,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of Flywire by 104.3% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company’s stock worth $193,000 after buying an additional 6,025 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Flywire by 7.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,445,629 shares of the company’s stock valued at $23,694,000 after buying an additional 97,412 shares in the last quarter. Finally, RiverPark Advisors LLC grew its position in shares of Flywire by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 16,142 shares of the company’s stock valued at $265,000 after buying an additional 1,416 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.