Citigroup Has Lowered Expectations for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW - Free Report) had its price target lowered by Citigroup from $27.00 to $26.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Flywire from $23.00 to $26.00 and gave the company a "buy" rating in a report on Monday, December 2nd. The Goldman Sachs Group lifted their target price on Flywire from $22.00 to $27.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Wells Fargo & Company lowered Flywire from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Flywire in a research report on Thursday, January 9th. Finally, B. Riley restated a "buy" rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flywire currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.36.

Flywire Stock Up 0.1 %

NASDAQ:FLYW traded up $0.02 during mid-day trading on Tuesday, reaching $19.03. 1,417,269 shares of the company were exchanged, compared to its average volume of 1,388,871. The stock has a market cap of $2.37 billion, a PE ratio of 126.87, a PEG ratio of 3.03 and a beta of 1.10. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The company has a fifty day moving average of $20.94 and a 200 day moving average of $18.59.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Quarry LP bought a new position in shares of Flywire during the 2nd quarter valued at about $26,000. Headlands Technologies LLC lifted its stake in Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company's stock valued at $55,000 after buying an additional 1,509 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Flywire in the second quarter valued at approximately $64,000. Advisors Asset Management Inc. increased its position in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock worth $66,000 after acquiring an additional 539 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Flywire during the third quarter worth $149,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.