Flywire (NASDAQ:FLYW) Price Target Lowered to $16.00 at Truist Financial

Flywire (NASDAQ:FLYW) had its price objective dropped by analysts at Truist Financial from $17.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 31.65% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of Flywire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. UBS Group reduced their price target on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Wall Street Zen raised shares of Flywire from a “hold” rating to a “buy” rating in a research note on Saturday. B. Riley Financial increased their price objective on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Finally, Morgan Stanley raised Flywire from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $17.00 in a research report on Monday. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.58.

Flywire Stock Down 2.2%

Shares of FLYW stock traded down $0.28 during mid-day trading on Tuesday, reaching $12.15. 416,303 shares of the stock traded hands, compared to its average volume of 1,595,356. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 121.54, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. The stock’s fifty day simple moving average is $12.92 and its two-hundred day simple moving average is $13.25. Flywire has a 1-year low of $8.20 and a 1-year high of $15.25.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $105.56. The business had revenue of $157.54 million during the quarter, compared to analyst estimates of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.Flywire’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS. On average, equities research analysts anticipate that Flywire will post 0.14 EPS for the current fiscal year.

Insider Activity at Flywire

In related news, Director Phillip John Riese sold 16,612 shares of Flywire stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,536,154.44. The trade was a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Voss Capital, Lp purchased 181,121 shares of the stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average cost of $14.15 per share, with a total value of $2,562,862.15. Following the completion of the transaction, the insider directly owned 9,625,009 shares in the company, valued at $136,193,877.35. The trade was a 1.92% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 251,112 shares of company stock valued at $3,477,834 and have sold 38,426 shares valued at $567,215. 4.40% of the stock is owned by insiders.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in Flywire during the first quarter worth about $271,000. Millennium Management LLC boosted its stake in shares of Flywire by 15.1% in the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock worth $12,644,000 after buying an additional 175,007 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Flywire by 14.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock valued at $11,792,000 after acquiring an additional 159,239 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Flywire by 194.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after acquiring an additional 2,167 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Flywire by 59.7% during the second quarter. Teacher Retirement System of Texas now owns 51,267 shares of the company’s stock worth $600,000 after acquiring an additional 19,159 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.