Flywire (NASDAQ:FLYW) Price Target Cut to $13.00 by Analysts at Citigroup

Flywire (NASDAQ:FLYW - Get Free Report) had its price target decreased by stock analysts at Citigroup from $26.00 to $13.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 34.78% from the stock's previous close.

A number of other research firms have also weighed in on FLYW. Raymond James lowered shares of Flywire from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a "buy" rating to a "hold" rating and decreased their price objective for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Wells Fargo & Company cut their price objective on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their target price on Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Flywire has a consensus rating of "Hold" and a consensus target price of $18.23.

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Flywire Stock Down 3.1 %

NASDAQ FLYW traded down $0.31 during trading hours on Monday, hitting $9.65. 414,935 shares of the company were exchanged, compared to its average volume of 1,603,703. The stock has a market cap of $1.19 billion, a PE ratio of 64.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. Flywire has a 52 week low of $8.62 and a 52 week high of $25.10. The stock has a 50-day moving average price of $15.42 and a 200 day moving average price of $17.86.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $112.80 million for the quarter, compared to analysts' expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, sell-side analysts anticipate that Flywire will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 5,523 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares of the company's stock, valued at $2,495,414.88. This represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now owns 30,770 shares of the company's stock, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Flywire

A number of hedge funds have recently modified their holdings of FLYW. Global Retirement Partners LLC acquired a new position in Flywire in the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire during the fourth quarter worth $48,000. Advisors Asset Management Inc. grew its position in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after buying an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flywire in the fourth quarter valued at $77,000. Finally, KBC Group NV raised its position in shares of Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after acquiring an additional 1,911 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

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.