BTIG Research Cuts Flywire (NASDAQ:FLYW) Price Target to $27.00

Flywire (NASDAQ:FLYW) had its price target reduced by investment analysts at BTIG Research from $34.00 to $27.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 60.24% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company lowered their price objective on Flywire from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial raised their target price on shares of Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. The Goldman Sachs Group raised their price objective on Flywire from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Flywire in a report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 target price for the company. Finally, UBS Group decreased their price target on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.87.

Flywire Price Performance

FLYW stock traded down $3.69 during midday trading on Wednesday, reaching $16.85. 8,135,788 shares of the company were exchanged, compared to its average volume of 1,593,904. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -182.87, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. The business has a 50-day moving average price of $23.59 and a two-hundred day moving average price of $23.17. Flywire has a one year low of $15.77 and a one year high of $35.80.

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

Insider Buying and Selling at Flywire

In other Flywire news, COO Rob Orgel sold 17,150 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $12,784,180.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Flywire news, COO Rob Orgel sold 17,150 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares of the company’s stock, valued at $12,784,180.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the transaction, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at $39,852,049.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,800 shares of company stock worth $3,743,582. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Several large investors have recently modified their holdings of FLYW. Amalgamated Bank raised its stake in Flywire by 3.3% during the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after buying an additional 486 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Flywire by 2.7% in the 3rd quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock worth $609,000 after purchasing an additional 500 shares in the last quarter. Arizona State Retirement System grew its position in Flywire by 2.1% in the 3rd quarter. Arizona State Retirement System now owns 24,802 shares of the company’s stock valued at $791,000 after purchasing an additional 501 shares during the period. RiverPark Advisors LLC grew its holdings in shares of Flywire by 22.6% during the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after buying an additional 589 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Flywire by 3.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after acquiring an additional 702 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.