Brokerages Set Flywire Co. (NASDAQ:FLYW) Price Target at $15.15

Flywire Co. (NASDAQ:FLYW - Get Free Report) has earned a consensus recommendation of "Hold" from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.15.

FLYW has been the topic of a number of research reports. Truist Financial initiated coverage on Flywire in a report on Monday, June 2nd. They issued a "buy" rating and a $12.00 price target on the stock. Royal Bank of Canada lowered their target price on Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wolfe Research restated a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their target price on shares of Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, May 8th.

Flywire Trading Down 0.8%

Shares of FLYW traded down $0.09 during mid-day trading on Tuesday, hitting $10.70. The company's stock had a trading volume of 2,590,533 shares, compared to its average volume of 1,846,573. The firm has a 50-day simple moving average of $10.00 and a 200 day simple moving average of $14.62. The firm has a market capitalization of $1.30 billion, a P/E ratio of 71.33, a P/E/G ratio of 1.41 and a beta of 1.27. 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 results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $128.70 million during 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 business's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. As a group, sell-side analysts predict that Flywire will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Edwin J. Santos sold 5,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 16,990 shares in the company, valued at $178,395. This represents a 22.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after acquiring an additional 781,711 shares during the last quarter. Voss Capital LP lifted its position in Flywire by 97.6% during the first quarter. Voss Capital LP now owns 2,934,986 shares of the company's stock valued at $27,882,000 after buying an additional 1,449,986 shares in the last quarter. Geode Capital Management LLC grew its stake in Flywire by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock worth $58,335,000 after buying an additional 28,944 shares during the period. Wasatch Advisors LP increased its position in shares of Flywire by 62.1% in the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock worth $56,533,000 after acquiring an additional 1,049,888 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Flywire by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company's stock valued at $40,543,000 after acquiring an additional 21,818 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.