The Goldman Sachs Group Lowers Flywire (NASDAQ:FLYW) Price Target to $25.00

Flywire (NASDAQ:FLYW) had its price objective decreased by investment analysts at The Goldman Sachs Group from $32.00 to $25.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 45.01% from the stock’s previous close.

Several other equities analysts have also recently weighed in on FLYW. JPMorgan Chase & Co. lifted their price objective on Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Wells Fargo & Company reduced their price target on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Monday. Citigroup dropped their price objective on shares of Flywire from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their target price on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, William Blair reissued an “outperform” rating on shares of Flywire in a research note on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.60.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $17.24 on Thursday. The company has a 50 day moving average price of $23.36 and a two-hundred day moving average price of $23.13. The company has a market capitalization of $2.12 billion, a PE ratio of -191.53, a PEG ratio of 11.18 and a beta of 1.09. Flywire has a 52 week low of $15.77 and a 52 week high of $35.80.

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

Insider Activity at Flywire

In other Flywire news, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares in the company, valued at $12,784,180.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Rob Orgel sold 17,150 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the completion of the sale, the chief operating officer now owns 468,285 shares in the company, valued at approximately $12,784,180.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Peter Butterfield sold 4,730 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 transaction of $129,129.00. Following the sale, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,800 shares of company stock worth $3,743,582. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Flywire during the 1st quarter worth $46,000. Quest Partners LLC bought a new position in Flywire during the fourth quarter worth about $52,000. RiverPark Advisors LLC raised its stake in Flywire by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock worth $74,000 after purchasing an additional 589 shares in the last quarter. Assetmark Inc. boosted its holdings in Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 shares during the period. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Flywire during the 4th quarter worth approximately $176,000. 95.90% of the stock is 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.