Flywire (NASDAQ:FLYW) Given New $27.00 Price Target at BTIG Research

Flywire (NASDAQ:FLYW) had its target price reduced by BTIG Research from $34.00 to $27.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on FLYW. The Goldman Sachs Group boosted their price target on Flywire from $29.00 to $34.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Oppenheimer started coverage on shares of Flywire in a report on Tuesday, January 23rd. They set an outperform rating and a $25.00 price objective on the stock. UBS Group dropped their price objective on shares of Flywire from $34.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday. Truist Financial raised their price target on shares of Flywire from $30.00 to $39.00 and gave the company a buy rating in a research report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Flywire in a research note on Tuesday, February 6th. They issued a buy rating and a $27.00 price objective for the company. Two 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. According to data from MarketBeat, Flywire has a consensus rating of Moderate Buy and a consensus target price of $31.60.

Flywire Stock Performance

Shares of NASDAQ FLYW traded up $0.58 during mid-day trading on Wednesday, reaching $17.82. The company had a trading volume of 977,347 shares, compared to its average volume of 1,626,369. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -191.53, a PEG ratio of 11.18 and a beta of 1.09. The business’s 50-day simple moving average is $23.36 and its 200 day simple moving average is $23.13. Flywire has a one year low of $15.77 and a one year high of $35.80.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The firm had revenue of $114.10 million during the quarter, compared to the consensus estimate of $107.81 million. During the same period in the prior year, the business earned ($0.03) earnings per share. Flywire’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Flywire will post 0.03 EPS for the current year.

Insider Activity

In other Flywire news, CTO David R. King sold 9,366 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at $16,968,806.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David R. King sold 9,366 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares in the company, valued at approximately $16,968,806.40. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock valued at $3,743,582 in the last 90 days. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in FLYW. Headlands Technologies LLC purchased a new position in shares of Flywire during the first quarter worth approximately $46,000. Quest Partners LLC bought a new position in Flywire during the 4th quarter valued at approximately $52,000. RiverPark Advisors LLC raised its holdings in shares of Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after acquiring an additional 589 shares in the last quarter. Assetmark Inc. boosted its holdings in 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 acquiring an additional 733 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning purchased a new position in Flywire during the 4th quarter valued at $176,000. Hedge funds and other institutional investors 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.