Flywire Co. (NASDAQ:FLYW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Flywire Co. (NASDAQ:FLYW) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.86.

A number of research analysts have recently issued reports on the company. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. BTIG Research cut their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd.

Insider Buying and Selling

In other news, CTO David R. King sold 3,504 shares of Flywire stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the sale, the chief technology officer now owns 616,680 shares in the company, valued at $10,674,730.80. This trade represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at $31,377,892.04. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock valued at $480,143 over the last 90 days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently bought and sold shares of FLYW. William Blair Investment Management LLC raised its stake in shares of Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after acquiring an additional 6,519,598 shares during the period. Vanguard Group Inc. increased its stake in Flywire by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares during the period. FMR LLC grew its holdings in Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after acquiring an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Flywire by 19.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after acquiring an additional 1,006,516 shares in the last quarter. Finally, State Street Corp grew its holdings in Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after acquiring an additional 145,894 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Performance

Flywire stock opened at $22.93 on Friday. The stock has a market cap of $2.85 billion, a P/E ratio of 152.87, a PEG ratio of 4.33 and a beta of 0.95. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The firm’s fifty day moving average price is $18.02 and its 200-day moving average price is $17.58.

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.