Citigroup Forecasts Strong Price Appreciation for Flywire (NASDAQ:FLYW) Stock

Flywire (NASDAQ:FLYW - Get Free Report) had its price target upped by stock analysts at Citigroup from $13.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's target price would suggest a potential downside of 9.76% from the company's previous close.

Several other brokerages also recently weighed in on FLYW. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Flywire in a research note on Tuesday, April 21st. B. Riley Financial increased their price objective on shares of Flywire from $15.00 to $20.00 and gave the company a "buy" rating in a report on Friday, January 9th. Stephens raised shares of Flywire from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. UBS Group increased their target price on Flywire from $14.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, BTIG Research raised their price objective on Flywire from $17.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.17.

Flywire Stock Performance

NASDAQ FLYW traded up $0.22 during mid-day trading on Thursday, reaching $17.73. 3,098,979 shares of the stock were exchanged, compared to its average volume of 1,787,204. The company has a market capitalization of $2.15 billion, a P/E ratio of 77.09, a P/E/G ratio of 1.21 and a beta of 1.30. The business's 50 day moving average is $12.71 and its 200-day moving average is $13.15. Flywire has a 1 year low of $9.97 and a 1 year high of $18.05.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.82%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period in the prior year, the company posted ($0.03) EPS. The company's revenue for the quarter was up 40.9% on a year-over-year basis. Equities analysts predict that Flywire will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Voss Capital, Lp acquired 25,000 shares of the business's stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average cost of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the transaction, the insider owned 2,300,000 shares in the company, valued at approximately $25,277,000. This trade represents a 1.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total transaction of $117,567.45. Following the transaction, the general counsel directly owned 532,962 shares in the company, valued at $6,955,154.10. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in Flywire in the fourth quarter valued at $32,000. KBC Group NV purchased a new stake in Flywire in the 1st quarter valued at about $38,000. Leonteq Securities AG lifted its position in Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after buying an additional 2,577 shares during the last quarter. Covestor Ltd boosted its stake in Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company's stock worth $43,000 after buying an additional 2,216 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after acquiring an additional 2,497 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

Flywire Corp NASDAQ: FLYW is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.

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.