Brokerages Set Flywire Co. (NASDAQ:FLYW) Price Target at $34.27

Shares of Flywire Co. (NASDAQ:FLYW) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $34.27.

A number of research firms recently weighed in on FLYW. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their price target on shares of Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Citigroup decreased their price target on shares of Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. UBS Group raised their price target on shares of Flywire from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada raised their price target on shares of Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $20.43 on Thursday. The company has a 50 day simple moving average of $24.21 and a 200-day simple moving average of $24.09. The company has a market capitalization of $2.51 billion, a P/E ratio of -227.00, a P/E/G ratio of 8.10 and a beta of 1.02. Flywire has a 1 year low of $18.65 and a 1 year high of $35.80.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.01) EPS. As a group, research analysts expect that Flywire will post 0.05 EPS for the current year.

Insider Buying and Selling

In related news, CTO David R. King sold 9,366 shares of Flywire stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now directly owns 621,568 shares in the company, valued at approximately $16,968,806.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the sale, the chief executive officer now directly owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David R. King sold 9,366 shares of Flywire stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $255,691.80. Following the sale, the chief technology officer now owns 621,568 shares in the company, valued at $16,968,806.40. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock worth $3,743,582 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. UBS Group AG acquired a new position in Flywire in the third quarter valued at $36,000. Tower Research Capital LLC TRC increased its stake in Flywire by 457.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $47,000 after purchasing an additional 1,314 shares during the period. KBC Group NV acquired a new position in Flywire in the fourth quarter valued at $48,000. Quest Partners LLC acquired a new position in Flywire in the fourth quarter valued at $52,000. Finally, Ensign Peak Advisors Inc acquired a new position in Flywire in the third quarter valued at $55,000. 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.