Wells Fargo & Company Has Lowered Expectations for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW - Get Free Report) had its price objective decreased by equities researchers at Wells Fargo & Company from $16.00 to $13.00 in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 19.38% from the company's current price.

Other analysts have also issued reports about the company. Seaport Res Ptn lowered Flywire from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered Flywire from a "buy" rating to a "hold" rating and decreased their target price for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Flywire currently has an average rating of "Hold" and an average price target of $15.62.

Flywire Price Performance

Shares of Flywire stock traded down $0.23 during midday trading on Wednesday, hitting $10.89. 2,043,831 shares of the company were exchanged, compared to its average volume of 1,728,229. The firm has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $16.13. Flywire has a 52 week low of $8.20 and a 52 week high of $23.40. The firm has a market cap of $1.35 billion, a P/E ratio of 72.60, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (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 quarter last year, the company posted ($0.05) EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts expect that Flywire will post 0.14 earnings per share for the current year.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the business'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 transaction of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares of the company's stock, valued at $2,495,414.88. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gretchen Howard acquired 8,889 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was bought 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 $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of Flywire during the 1st quarter worth approximately $236,000. XTX Topco Ltd boosted its position in Flywire by 21.9% during the first quarter. XTX Topco Ltd now owns 34,587 shares of the company's stock worth $329,000 after purchasing an additional 6,224 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Flywire in the first quarter valued at $607,000. Federated Hermes Inc. bought a new position in shares of Flywire in the first quarter valued at about $11,733,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Flywire by 34.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,709 shares of the company's stock worth $406,000 after buying an additional 10,840 shares during the last quarter. Institutional investors own 95.90% of the company's stock.

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.