Flywire (NASDAQ:FLYW) Price Target Lowered to $26.00 at Citigroup

Flywire (NASDAQ:FLYW) had its price objective dropped by equities research analysts at Citigroup from $27.00 to $26.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 30.33% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James increased their price objective on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. The Goldman Sachs Group boosted their price target on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Flywire has a consensus rating of “Moderate Buy” and an average target price of $25.36.

Flywire Trading Up 4.8 %

Shares of NASDAQ:FLYW opened at $19.95 on Tuesday. Flywire has a 12-month low of $15.19 and a 12-month high of $31.54. The company has a market cap of $2.48 billion, a PE ratio of 133.00, a price-to-earnings-growth ratio of 3.03 and a beta of 1.10. The stock has a 50 day moving average of $20.94 and a 200 day moving average of $18.59.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Flywire in the 2nd quarter worth about $26,000. Headlands Technologies LLC increased its stake in Flywire by 82.3% during the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after acquiring an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Flywire during the second quarter valued at approximately $64,000. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Flywire in the 3rd quarter worth approximately $149,000. 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.