Flywire (NASDAQ:FLYW) Given New $27.00 Price Target at BTIG Research

Flywire (NASDAQ:FLYW) had its price target cut by BTIG Research from $34.00 to $27.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 52.71% from the stock’s current price.

A number of other research firms also recently weighed in on FLYW. JPMorgan Chase & Co. lifted their price target on Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. UBS Group lowered their target price on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer assumed coverage on Flywire in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a report on Tuesday, February 6th. They set a “buy” rating and a $27.00 price objective for the company. Finally, Truist Financial raised their price target on Flywire from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.60.

Flywire Stock Performance

NASDAQ:FLYW opened at $17.68 on Wednesday. The stock has a market capitalization of $2.17 billion, a P/E ratio of -196.42, a PEG 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. The company has a 50 day moving average price of $23.15 and a 200 day moving average price of $23.10.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The firm had revenue of $114.10 million for 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 was up 20.9% on a year-over-year basis. Research analysts forecast that Flywire will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the firm’s 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 directly owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO David R. King sold 9,366 shares of Flywire stock in a transaction dated 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 transaction, the chief technology officer now owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total value 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 quarter, insiders have sold 141,800 shares of company stock valued at $3,743,582. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently made changes to their positions in FLYW. Amalgamated Bank increased its stake in shares of Flywire by 3.3% in the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock valued at $353,000 after purchasing an additional 486 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of Flywire by 2.7% in the third quarter. Primecap Management Co. CA now owns 19,100 shares of the company’s stock worth $609,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Flywire by 2.1% during 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 last quarter. RiverPark Advisors LLC lifted its stake in Flywire by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after purchasing an additional 589 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Flywire by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after buying an additional 702 shares in the last quarter. Institutional investors 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.