Flywire (NASDAQ:FLYW) Stock Price Up 4.4% - Here's Why

Flywire Co. (NASDAQ:FLYW - Get Free Report) shares rose 4.4% on Monday . The company traded as high as $20.12 and last traded at $20.18. Approximately 378,595 shares changed hands during trading, a decline of 75% from the average daily volume of 1,489,774 shares. The stock had previously closed at $19.33.

Analysts Set New Price Targets

A number of brokerages have commented on FLYW. Citigroup cut their price target on shares of Flywire from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Morgan Stanley lifted their price target on Flywire from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Wells Fargo & Company lowered Flywire from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Royal Bank of Canada reissued an "outperform" rating and set a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. Finally, The Goldman Sachs Group raised their price target on Flywire from $22.00 to $27.00 and gave the company a "buy" rating in a report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $25.38.

Flywire Trading Up 1.0 %

The firm's 50-day moving average price is $20.09 and its 200 day moving average price is $18.89. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 136.00, a PEG ratio of 1.46 and a beta of 1.08.

Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.16. The firm had revenue of $156.82 million for the quarter, compared to analysts' expectations of $146.44 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. During the same quarter in the previous year, the business posted $0.08 earnings per share. As a group, equities research analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. Bank of Montreal Can acquired a new stake in shares of Flywire during the second quarter valued at about $405,000. The Manufacturers Life Insurance Company boosted its position in Flywire by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,428 shares of the company's stock worth $1,122,000 after buying an additional 8,034 shares during the period. Algert Global LLC bought a new stake in Flywire during the 2nd quarter worth approximately $180,000. Creative Planning acquired a new position in Flywire in the 2nd quarter valued at approximately $356,000. Finally, Truist Financial Corp raised its stake in shares of Flywire by 6.2% during the second quarter. Truist Financial Corp now owns 19,434 shares of the company's stock valued at $319,000 after acquiring an additional 1,128 shares during the last quarter. 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.