Raymond James Issues Positive Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW - Get Free Report) had its price target increased by equities research analysts at Raymond James from $23.00 to $27.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "strong-buy" rating on the stock. Raymond James' target price would indicate a potential upside of 28.63% from the company's current price.

FLYW has been the subject of several other research reports. B. Riley reissued a "buy" rating and issued a $30.00 price target on shares of Flywire in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Flywire from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. BTIG Research lowered their price target on Flywire from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Flywire has an average rating of "Moderate Buy" and an average price target of $25.50.

Flywire Price Performance

FLYW stock traded up $2.69 during midday trading on Friday, hitting $20.99. 5,427,545 shares of the stock traded hands, compared to its average volume of 1,400,836. The stock's fifty day simple moving average is $17.12 and its 200-day simple moving average is $17.48. The firm has a market cap of $2.63 billion, a P/E ratio of -301.00, a PEG ratio of 7.48 and a beta of 0.95. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.01). The business had revenue of $103.68 million for the quarter, compared to analysts' expectations of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The business's revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) EPS. On average, research analysts predict that Flywire will post 0.05 earnings per share for the current year.

Insider Activity

In related news, COO Rob Orgel sold 4,552 shares of Flywire stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $82,118.08. Following the completion of the sale, the chief operating officer now owns 477,472 shares in the company, valued at approximately $8,613,594.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Rob Orgel sold 4,552 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares in the company, valued at $8,613,594.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares of the company's stock, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,966 shares of company stock valued at $480,143. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. William Blair Investment Management LLC raised its holdings in Flywire by 125.1% in the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company's stock valued at $192,284,000 after acquiring an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company's stock worth $32,168,000 after purchasing an additional 1,407,180 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Flywire during the second quarter worth $12,642,000. Blair William & Co. IL increased its holdings in Flywire by 33.4% in the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company's stock valued at $29,678,000 after buying an additional 453,183 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Flywire by 10.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company's stock worth $120,018,000 after buying an additional 450,760 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.