Flywire (NASDAQ:FLYW) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Flywire (NASDAQ:FLYW - Free Report) in a report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $12.00 price target on the stock.

FLYW has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price target on shares of Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $25.00 to $15.00 in a report on Wednesday, February 26th. Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James downgraded Flywire from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $15.15.

Flywire Stock Performance

Shares of Flywire stock traded up $0.14 on Monday, hitting $10.14. The stock had a trading volume of 1,338,945 shares, compared to its average volume of 2,578,361. The firm has a market capitalization of $1.23 billion, a P/E ratio of 67.60, a PEG ratio of 1.41 and a beta of 1.27. Flywire has a twelve month low of $8.20 and a twelve month high of $23.40. The stock has a 50 day moving average of $9.87 and a 200 day moving average of $15.12.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. During the same period last year, the company posted ($0.05) earnings per share. The business's quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts expect that Flywire will post 0.14 earnings per share for the current year.

Insider Activity

In related news, General Counsel Peter Butterfield sold 5,523 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This represents a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Flywire

Several hedge funds have recently modified their holdings of the stock. Versor Investments LP bought a new stake in shares of Flywire in the fourth quarter worth $1,118,000. Y Intercept Hong Kong Ltd grew its holdings in Flywire by 345.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company's stock worth $1,980,000 after buying an additional 74,465 shares in the last quarter. Sei Investments Co. raised its stake in Flywire by 38.4% during the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company's stock valued at $2,271,000 after acquiring an additional 30,572 shares in the last quarter. Vanguard Group Inc. raised its stake in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in Flywire by 99.7% during the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company's stock worth $4,549,000 after acquiring an additional 110,124 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.