The Goldman Sachs Group Has Lowered Expectations for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW - Get Free Report) had its target price reduced by The Goldman Sachs Group from $15.00 to $11.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price indicates a potential upside of 21.95% from the stock's previous close.

A number of other equities analysts have also commented on FLYW. Raymond James lowered shares of Flywire from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. UBS Group lowered Flywire from a "buy" rating to a "neutral" rating and decreased their target price for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. BTIG Research lowered Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Citigroup lowered their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Finally, Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $17.92.

Remove Ads

Flywire Price Performance

Shares of Flywire stock traded down $0.08 during trading on Wednesday, hitting $9.02. The stock had a trading volume of 3,963,655 shares, compared to its average volume of 1,636,668. The stock has a market cap of $1.11 billion, a PE ratio of 60.13, a PEG ratio of 1.41 and a beta of 1.22. Flywire has a 12 month low of $8.62 and a 12 month high of $23.90. The firm's fifty day simple moving average is $14.24 and its 200-day simple moving average is $17.52.

Flywire (NASDAQ:FLYW - Get Free Report) last issued 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). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million during the quarter, compared to analysts' expectations of $118.85 million. Analysts expect that Flywire will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Flywire

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after purchasing an additional 781,711 shares during the period. FMR LLC increased its stake in shares of Flywire by 3.6% during the third quarter. FMR LLC now owns 9,408,098 shares of the company's stock worth $154,199,000 after buying an additional 326,120 shares during the period. Jennison Associates LLC raised its holdings in Flywire by 53.0% in 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 in the last quarter. State Street Corp lifted its stake in Flywire by 5.2% in the third 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock worth $58,335,000 after acquiring an additional 28,944 shares in the last quarter. Institutional investors and hedge funds 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.