Flywire (NASDAQ:FLYW) Price Target Cut to $26.00 by Analysts at UBS Group

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

Several other analysts have also recently issued reports on the company. Wells Fargo & Company cut 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. Citigroup dropped their target price 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. The Goldman Sachs Group lifted their price target on shares of Flywire from $29.00 to $34.00 and gave the company a buy rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a report on Tuesday, February 6th. They issued a buy rating and a $27.00 target price on the stock. Finally, Oppenheimer assumed coverage on Flywire in a report on Tuesday, January 23rd. They set an outperform rating and a $25.00 target price for the company. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $31.60.

Flywire Price Performance

Shares of FLYW stock traded up $0.58 during trading on Wednesday, hitting $17.82. 977,347 shares of the stock traded hands, compared to its average volume of 1,626,369. Flywire has a 52-week low of $15.77 and a 52-week high of $35.80. The firm’s fifty day moving average price is $23.36 and its 200-day moving average price is $23.13. The firm has a market capitalization of $2.19 billion, a P/E ratio of -191.53, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09.

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

Insider Buying and Selling at Flywire

In other news, CTO David R. King sold 9,366 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the sale, the chief technology officer now directly owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO David R. King sold 9,366 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the completion of the sale, the chief technology officer now directly owns 621,568 shares in the company, valued at $16,968,806.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were 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 of the company’s stock, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,800 shares of company stock valued at $3,743,582. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLYW. Raymond James & Associates grew its holdings in Flywire by 118.6% during the 3rd quarter. Raymond James & Associates now owns 235,540 shares of the company’s stock worth $7,511,000 after acquiring an additional 127,810 shares during the period. Bank of New York Mellon Corp lifted its stake in Flywire by 133.2% in the third quarter. Bank of New York Mellon Corp now owns 843,046 shares of the company’s stock valued at $26,885,000 after buying an additional 481,467 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Flywire by 19.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,119 shares of the company’s stock worth $546,000 after buying an additional 2,805 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Flywire by 447.6% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 56,115 shares of the company’s stock worth $1,790,000 after acquiring an additional 45,868 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Flywire by 40.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,498,653 shares of the company’s stock valued at $47,792,000 after purchasing an additional 428,543 shares during the period. 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.