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

Flywire (NASDAQ:FLYW - Get Free Report) had its target price dropped by Wells Fargo & Company from $16.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 23.93% from the company's current price.

Several other brokerages also recently commented on FLYW. Deutsche Bank Aktiengesellschaft downgraded Flywire from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $26.00 to $16.00 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. BTIG Research cut shares of Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. Raymond James downgraded shares of 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. Finally, The Goldman Sachs Group dropped their price target on Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Flywire has an average rating of "Hold" and a consensus target price of $15.77.

Flywire Stock Up 4.5 %

NASDAQ FLYW traded up $0.45 during trading hours on Wednesday, hitting $10.49. The company's stock had a trading volume of 855,146 shares, compared to its average volume of 1,753,955. The stock has a fifty day moving average of $9.57 and a 200 day moving average of $16.25. The firm has a market capitalization of $1.30 billion, a P/E ratio of 70.47, a PEG ratio of 1.41 and a beta of 1.22. Flywire has a twelve month low of $8.20 and a twelve month high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last issued 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. The firm had revenue of $128.70 million for the quarter, compared to analysts' expectations of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. On average, analysts predict that Flywire will post 0.14 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in Flywire by 1.6% in the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company's stock valued at $664,000 after purchasing an additional 513 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Flywire by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company's stock valued at $261,000 after acquiring an additional 802 shares during the period. Dakota Wealth Management raised its stake in shares of Flywire by 8.7% during the first quarter. Dakota Wealth Management now owns 13,334 shares of the company's stock valued at $127,000 after acquiring an additional 1,066 shares during the last quarter. Bayesian Capital Management LP grew its stake in shares of Flywire by 6.9% in the fourth quarter. Bayesian Capital Management LP now owns 20,059 shares of the company's stock worth $414,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Flywire during the 4th quarter worth $30,000. 95.90% of the stock is currently owned by institutional investors.

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.

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