Analysts Set Flywire Co. (NASDAQ:FLYW) Target Price at $15.62

Flywire Co. (NASDAQ:FLYW - Get Free Report) has earned a consensus rating of "Hold" from the fifteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $15.62.

FLYW has been the topic of several recent analyst reports. Stephens downgraded shares of Flywire from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Wolfe Research reissued a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and cut their price target for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. BTIG Research downgraded shares of Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Finally, B. Riley reaffirmed a "buy" rating and set a $17.00 price target (down previously from $29.00) on shares of Flywire in a research note on Friday, May 2nd.

Flywire Stock Down 2.8%

Shares of FLYW traded down $0.33 on Friday, hitting $11.48. 2,069,904 shares of the stock traded hands, compared to its average volume of 1,753,121. The firm has a market capitalization of $1.40 billion, a P/E ratio of 76.53, a P/E/G ratio of 1.41 and a beta of 1.22. The stock's 50 day moving average is $9.76 and its two-hundred day moving average is $15.79. Flywire has a 1 year low of $8.20 and a 1 year high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $128.70 million for the quarter, compared to the consensus estimate of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Research analysts forecast that Flywire will post 0.14 EPS for the current year.

Insider Activity

In other news, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FLYW. Mendon Capital Advisors Corp acquired a new position in shares of Flywire in the 1st quarter valued at about $919,000. Caxton Associates LLP acquired a new position in Flywire during the 1st quarter valued at about $393,000. Goldman Sachs Group Inc. boosted its stake in Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock valued at $11,792,000 after purchasing an additional 159,239 shares during the period. Petrus Trust Company LTA boosted its stake in Flywire by 91.6% during the 1st quarter. Petrus Trust Company LTA now owns 24,151 shares of the company's stock valued at $229,000 after purchasing an additional 11,546 shares during the period. Finally, Millennium Management LLC boosted its stake in Flywire by 15.1% during the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock valued at $12,644,000 after purchasing an additional 175,007 shares during the period. 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.