Brokerages Set Flywire Co. (NASDAQ:FLYW) PT at $29.86

Shares of Flywire Co. (NASDAQ:FLYW) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.86.

FLYW has been the topic of a number of recent research reports. BTIG Research dropped their target price on Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Royal Bank of Canada reduced their target price on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. UBS Group dropped their price target on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group reduced their price objective on shares of Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Wells Fargo & Company dropped their target price on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th.

Insiders Place Their Bets

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 transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Flywire in the first quarter worth $46,000. Quest Partners LLC purchased a new position in shares of Flywire in the fourth quarter valued at about $52,000. RiverPark Advisors LLC raised its position in Flywire by 22.6% during the 4th 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. Advisors Asset Management Inc. lifted its stake in Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after acquiring an additional 954 shares during the period. Finally, Assetmark Inc. increased its position in Flywire by 16.9% during the 4th 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 period. 95.90% of the stock is owned by institutional investors.

Flywire Trading Up 3.7 %

NASDAQ FLYW opened at $16.55 on Tuesday. The company has a market cap of $2.06 billion, a P/E ratio of -150.44, a PEG ratio of 28.68 and a beta of 1.00. The company has a fifty day simple moving average of $17.85 and a 200 day simple moving average of $21.33. Flywire has a 12-month low of $15.19 and a 12-month high of $35.80.

Flywire (NASDAQ:FLYW) last posted 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 return on equity of 1.56% and a negative net margin of 2.63%. The business had revenue of $114.10 million for the quarter, compared to the consensus estimate of $107.81 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Sell-side analysts predict that Flywire will post 0.01 EPS for the current year.

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.