Flywire (NASDAQ:FLYW) Stock Price Up 5.7% – What’s Next?

Flywire Co. (NASDAQ:FLYW)’s share price rose 5.7% during mid-day trading on Monday . The company traded as high as $18.89 and last traded at $18.82. Approximately 740,714 shares changed hands during trading, a decline of 42% from the average daily volume of 1,271,058 shares. The stock had previously closed at $17.80.

Analyst Upgrades and Downgrades

FLYW has been the subject of a number of research reports. Citigroup dropped their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. The Goldman Sachs Group upped their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.36.

Flywire Stock Up 4.8 %

The company’s fifty day moving average is $20.94 and its two-hundred day moving average is $18.59. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 133.00, a PEG ratio of 3.03 and a beta of 1.10.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after acquiring an additional 326,120 shares during the period. Westfield Capital Management Co. LP increased its stake in Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after buying an additional 1,006,516 shares during the period. State Street Corp increased its stake in Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after buying an additional 145,894 shares during the period. Geode Capital Management LLC increased its stake in Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after buying an additional 17,062 shares during the period. Finally, Jennison Associates LLC increased its stake in Flywire by 5.3% in the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after buying an additional 112,218 shares during the period. 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.