Flywire (NASDAQ:FLYW) Given New $26.00 Price Target at UBS Group

Flywire (NASDAQ:FLYW) had its target price reduced by UBS Group from $34.00 to $26.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft started coverage on Flywire in a research note on Tuesday, February 6th. They issued a buy rating and a $27.00 target price for the company. Morgan Stanley lowered shares of Flywire from an overweight rating to an equal weight rating and raised their price objective for the company from $27.00 to $30.00 in a research note on Friday, March 1st. Truist Financial upped their target price on shares of Flywire from $30.00 to $39.00 and gave the stock a buy rating in a research note on Wednesday, February 28th. Citigroup cut their price target on shares of Flywire from $37.00 to $36.00 and set a buy rating on the stock in a report on Thursday, April 4th. Finally, Royal Bank of Canada upped their price objective on Flywire from $36.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $31.60.

Flywire Price Performance

Shares of NASDAQ:FLYW traded up $0.58 during midday trading on Wednesday, reaching $17.82. The company’s stock had a trading volume of 977,347 shares, compared to its average volume of 1,626,369. The business’s fifty day simple moving average is $23.36 and its 200-day simple moving average is $23.13. The company has a market capitalization of $2.19 billion, a P/E ratio of -191.53, a P/E/G ratio of 11.18 and a beta of 1.09. Flywire has a fifty-two week low of $15.77 and a fifty-two week high of $35.80.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $114.10 million for the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. Flywire’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, analysts forecast that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction that occurred 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 owns 1,655,673 shares in the company, valued at $39,852,049.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO David R. King sold 9,366 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now directly owns 621,568 shares in the company, valued at approximately $16,968,806.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the sale, the chief executive officer now owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 141,800 shares of company stock valued at $3,743,582. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in FLYW. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Flywire by 44.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 15,120 shares of the company’s stock valued at $375,000 after acquiring an additional 4,620 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Flywire by 8.8% in the 1st quarter. William Blair Investment Management LLC now owns 5,212,192 shares of the company’s stock worth $129,314,000 after purchasing an additional 419,549 shares during the period. ProShare Advisors LLC increased its position in shares of Flywire by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 19,104 shares of the company’s stock valued at $474,000 after purchasing an additional 1,504 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Flywire during the 1st quarter valued at $46,000. Finally, Swiss National Bank lifted its position in Flywire by 0.8% in the first quarter. Swiss National Bank now owns 212,300 shares of the company’s stock worth $5,267,000 after buying an additional 1,600 shares during the last quarter. 95.90% of the stock is 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.