Wells Fargo & Company Cuts Flywire (NASDAQ:FLYW) Price Target to $30.00

Flywire (NASDAQ:FLYW - Get Free Report) had its price target decreased by investment analysts at Wells Fargo & Company from $35.00 to $30.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 49.93% from the company's current price.

FLYW has been the topic of several other research reports. UBS Group raised their target price on Flywire from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of Flywire from $29.00 to $32.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Oppenheimer assumed coverage on Flywire in a research note on Tuesday, January 23rd. They set an "outperform" rating and a $25.00 target price for the company. Truist Financial boosted their price target on shares of Flywire from $30.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their price objective on shares of Flywire from $29.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $34.07.

Flywire Stock Performance

FLYW traded up $0.20 on Monday, hitting $20.01. 2,438,718 shares of the company were exchanged, compared to its average volume of 1,496,263. Flywire has a 12 month low of $18.65 and a 12 month high of $35.80. The firm has a fifty day simple moving average of $23.76 and a two-hundred day simple moving average of $23.29. The stock has a market capitalization of $2.46 billion, a PE ratio of -223.11, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. The firm had revenue of $100.55 million during the quarter, compared to analysts' expectations of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The company's quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the company posted ($0.01) EPS. On average, equities analysts expect that Flywire will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Phillip John Riese sold 50,000 shares of the firm's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the sale, the director now owns 232,037 shares in the company, valued at $6,128,097.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Phillip John Riese sold 50,000 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total value of $1,320,500.00. Following the completion of the transaction, the director now directly owns 232,037 shares in the company, valued at $6,128,097.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO David R. King sold 9,366 shares of Flywire stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares in the company, valued at $16,968,806.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,800 shares of company stock worth $3,743,582. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently made changes to their positions in FLYW. Quest Partners LLC bought a new stake in Flywire in the 4th quarter valued at about $52,000. RiverPark Advisors LLC grew its holdings in shares of Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company's stock valued at $74,000 after buying an additional 589 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company's stock worth $117,000 after acquiring an additional 733 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in Flywire in the 4th quarter valued at $176,000. Finally, OneAscent Financial Services LLC acquired a new position in shares of Flywire during the 4th quarter worth about $212,000. 95.90% of the stock is owned by 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.