Flywire (NASDAQ:FLYW) Stock Price Target Raised at Truist Financial

Key Points

• Truist raised Flywire’s price target from $19 to $23 but maintained a Hold rating; the target implied 2.91% upside from the prior close.
• Analysts’ consensus rating is Hold, with an average price target of $22.58; seven rate the stock Buy and eight rate it Hold.
• Flywire reported quarterly EPS of $0.57, beating the $0.31 consensus estimate, while revenue of $250.3 million exceeded forecasts and grew 25.1% year over year.

Flywire (NASDAQ:FLYW - Get Free Report) had its price target increased by analysts at Truist Financial from $19.00 to $23.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 2.91% from the stock's previous close.

A number of other research analysts have also recently commented on FLYW. BTIG Research raised their price target on shares of Flywire from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, November 4th. Seaport Research Partners reiterated a "buy" rating and issued a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. Weiss Ratings raised Flywire from a "hold (c-)" rating to a "hold (c+)" rating in a report on Monday. The Goldman Sachs Group reissued a "neutral" rating and issued a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on Flywire from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.58.

Flywire Stock Performance

Shares of FLYW stock opened at $22.35 on Wednesday. The firm has a fifty day moving average of $18.59 and a 200-day moving average of $15.78. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 1.41 and a beta of 1.32. Flywire has a 52-week low of $10.55 and a 52-week high of $22.35.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.26. The business had revenue of $250.30 million for the quarter, compared to analyst estimates of $233.25 million. Flywire had a net margin of 10.34% and a return on equity of 9.25%. The firm's revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. On average, sell-side analysts predict that Flywire will post 0.40 earnings per share for the current year.

Insider Activity

In other Flywire news, major shareholder Voss Capital, Lp sold 44,768 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $18.78, for a total transaction of $840,743.04. Following the sale, the insider directly owned 11,069,321 shares of the company's stock, valued at approximately $207,881,848.38. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David R. King sold 55,325 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.05, for a total transaction of $1,109,266.25. Following the sale, the insider directly owned 147,079 shares of the company's stock, valued at approximately $2,948,933.95. The trade was a 27.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 653,996 shares of company stock worth $12,466,115. Company insiders own 5.00% of the company's stock.

Institutional Investors Weigh In On Flywire

A number of large investors have recently bought and sold shares of FLYW. Nykredit A S acquired a new stake in Flywire during the 2nd quarter valued at $29,000. Essential Partners LLC boosted its stake in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Flywire by 168.7% during the third quarter. IFP Advisors Inc now owns 2,483 shares of the company's stock worth $43,000 after purchasing an additional 1,559 shares during the last quarter. KBC Group NV bought a new stake in shares of Flywire during the first quarter worth $38,000. Finally, Sterling Capital Management LLC grew its holdings in shares of Flywire by 592.3% during the third quarter. Sterling Capital Management LLC now owns 3,884 shares of the company's stock worth $68,000 after purchasing an additional 3,323 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Flywire Company Profile

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations' existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.