Flywire Co. (NASDAQ:FLYW) Receives $19.23 Average Price Target from Brokerages

Shares of Flywire Co. (NASDAQ:FLYW - Get Free Report) have earned an average rating of "Hold" from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $19.23.

A number of research analysts have weighed in on the stock. Citigroup reduced their price target on shares of Flywire from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a "buy" rating to a "hold" rating and reduced their price target for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn lowered shares of Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th.

Insider Buying and Selling

In other Flywire news, Director Gretchen Howard acquired 8,889 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the acquisition, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This trade represents a 40.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.90% of the company's stock.

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Hedge Funds Weigh In On Flywire

A number of hedge funds have recently added to or reduced their stakes in FLYW. Raymond James Financial Inc. acquired a new position in Flywire in the fourth quarter worth $35,579,000. Voss Capital LP acquired a new position in Flywire in the fourth quarter worth $30,621,000. Teacher Retirement System of Texas acquired a new position in Flywire in the fourth quarter worth $24,363,000. Jennison Associates LLC boosted its holdings in shares of Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in shares of Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock valued at $56,533,000 after acquiring an additional 1,049,888 shares during the period. Institutional investors and hedge funds own 95.90% of the company's stock.

Flywire Stock Up 0.9 %

Shares of FLYW traded up $0.10 during mid-day trading on Friday, hitting $10.74. The company had a trading volume of 2,164,622 shares, compared to its average volume of 2,404,922. The business's 50-day simple moving average is $18.47 and its 200-day simple moving average is $18.69. Flywire has a 1-year low of $8.62 and a 1-year high of $27.06. The stock has a market cap of $1.34 billion, a PE ratio of 71.60, a P/E/G ratio of 1.41 and a beta of 1.08.

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

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.