Flywire (NASDAQ:FLYW) Price Target Lowered to $30.00 at Wells Fargo & Company

Flywire (NASDAQ:FLYW) had its price target cut by analysts at Wells Fargo & Company from $35.00 to $30.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 49.18% from the stock’s current price.

FLYW has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 28th. Oppenheimer began coverage on Flywire in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Citigroup dropped their target price on Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. Finally, Morgan Stanley lowered Flywire from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $27.00 to $30.00 in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.07.

Flywire Price Performance

Flywire stock traded up $0.30 during trading hours on Monday, hitting $20.11. 376,362 shares of the stock traded hands, compared to its average volume of 1,469,800. The firm’s 50 day moving average price is $23.76 and its 200-day moving average price is $23.29. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -224.98, a P/E/G ratio of 11.18 and a beta of 1.09. Flywire has a 1 year low of $18.65 and a 1 year high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $100.55 million for the quarter, compared to the consensus estimate of $88.52 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. Flywire’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) earnings per share. Research analysts forecast that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $468,195.00. Following the completion of the sale, the chief operating officer now owns 468,285 shares of the company’s stock, valued at $12,784,180.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Rob Orgel sold 17,150 shares of Flywire stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $468,195.00. Following the completion of the transaction, the chief operating officer now owns 468,285 shares of the company’s stock, valued at approximately $12,784,180.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Phillip John Riese sold 50,000 shares of Flywire stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the sale, the director now directly owns 232,037 shares of the company’s stock, valued at approximately $6,128,097.17. The disclosure for this sale can be found here. Insiders sold a total of 141,800 shares of company stock valued at $3,743,582 over the last ninety days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently added to or reduced their stakes in FLYW. Amalgamated Bank boosted its stake in shares of Flywire by 3.3% in the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock valued at $353,000 after purchasing an additional 486 shares during the last quarter. Primecap Management Co. CA raised its holdings in Flywire by 2.7% during the third quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock worth $609,000 after buying an additional 500 shares during the last quarter. Arizona State Retirement System raised its holdings in Flywire by 2.1% during the third quarter. Arizona State Retirement System now owns 24,802 shares of the company’s stock worth $791,000 after buying an additional 501 shares during the last quarter. RiverPark Advisors LLC raised its holdings in shares of Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after purchasing an additional 589 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 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.