Flywire (NASDAQ:FLYW) Price Target Raised to $16.00 at Truist Financial

Flywire (NASDAQ:FLYW) had its target price hoisted by Truist Financial from $15.00 to $16.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a research note on Wednesday, October 8th. Wolfe Research restated an “outperform” rating and set a $19.00 target price on shares of Flywire in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Flywire in a research report on Thursday, July 17th. They set a “hold” rating and a $12.00 target price for the company. Finally, Wall Street Zen upgraded shares of Flywire from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Flywire currently has a consensus rating of “Hold” and an average target price of $14.81.

Flywire Price Performance

Flywire stock traded up $0.08 during mid-day trading on Thursday, reaching $13.92. The company had a trading volume of 1,330,386 shares, compared to its average volume of 1,843,171. The stock’s 50-day simple moving average is $13.35 and its 200-day simple moving average is $12.06. Flywire has a 1 year low of $8.20 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.87. The company has a market capitalization of $1.70 billion, a P/E ratio of -695.65, a P/E/G ratio of 2.74 and a beta of 1.29.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.The business had revenue of $194.10 million for the quarter, compared to analysts’ expectations of $180.07 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue was up 27.6% compared to the same quarter last year. On average, equities analysts predict that Flywire will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

Institutional investors have recently modified their holdings of the company. Voss Capital LP lifted its stake in shares of Flywire by 176.0% during the second quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock valued at $94,770,000 after buying an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP raised its holdings in Flywire by 178.0% in the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after acquiring an additional 3,063,518 shares during the last quarter. Mangrove Partners IM LLC purchased a new position in shares of Flywire during the 3rd quarter worth $39,289,000. Azora Capital LP purchased a new position in shares of Flywire during the 2nd quarter worth $33,355,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after purchasing an additional 2,129,514 shares during the last quarter. Institutional investors and hedge funds 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.