Flywire (NASDAQ:FLYW) Given New $34.00 Price Target at Royal Bank of Canada

Flywire (NASDAQ:FLYW) had its price target reduced by Royal Bank of Canada from $41.00 to $34.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently commented on FLYW. Citigroup dropped their price objective on shares of Flywire from $36.00 to $33.00 and set a buy rating for the company in a report on Wednesday. Oppenheimer started coverage on Flywire in a report on Tuesday, January 23rd. They set an outperform rating and a $25.00 price target for the company. Truist Financial upped their price objective on Flywire from $30.00 to $39.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Morgan Stanley cut shares of 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 report on Friday, March 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Flywire from $29.00 to $32.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $31.60.

Flywire Price Performance

Shares of NASDAQ:FLYW traded up $0.58 during mid-day trading on Wednesday, reaching $17.82. 977,347 shares of the company traded hands, compared to its average volume of 1,626,369. Flywire has a 52 week low of $15.77 and a 52 week high of $35.80. The firm has a market cap of $2.19 billion, a PE ratio of -191.53, a PEG ratio of 11.18 and a beta of 1.09. The company’s 50 day moving average price is $23.36 and its 200-day moving average price is $23.13.

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

Insider Activity at Flywire

In other news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the sale, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Massaro sold 13,043 shares of Flywire 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 owns 1,655,673 shares in the company, valued at $39,852,049.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rob Orgel sold 17,150 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 $468,195.00. Following the sale, the chief operating officer now directly owns 468,285 shares in the company, valued at $12,784,180.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,800 shares of company stock worth $3,743,582. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Several large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of Flywire during the first quarter worth about $46,000. Quest Partners LLC purchased a new stake in shares of Flywire in the 4th quarter valued at approximately $52,000. RiverPark Advisors LLC acquired a new stake in shares of Flywire in the 3rd quarter valued at $83,000. Assetmark Inc. lifted its position in shares of Flywire by 16.9% during the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after purchasing an additional 733 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Flywire in the third quarter valued at $224,000. Hedge funds and other 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.