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

Flywire (NASDAQ:FLYW) had its target price lifted by analysts at Truist Financial from $15.00 to $16.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 15.69% from the company’s current price.

A number of other analysts have also recently weighed in on FLYW. Zacks Research cut Flywire from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Citigroup upgraded shares of Flywire to a “hold” rating in a research note on Thursday, October 23rd. UBS Group increased their target price on shares of Flywire from $13.50 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Flywire from a “sell” rating to a “hold” rating in a research note on Sunday, August 10th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.81.

Flywire Price Performance

NASDAQ FLYW traded down $0.01 on Thursday, reaching $13.83. The company’s stock had a trading volume of 380,235 shares, compared to its average volume of 2,374,656. The firm has a market cap of $1.69 billion, a PE ratio of -690.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29. The business has a 50-day moving average price of $13.32 and a 200 day moving average price of $12.02. Flywire has a 52 week low of $8.20 and a 52 week high of $23.40. The company has a current ratio of 1.53, a quick ratio of 1.87 and a debt-to-equity ratio of 0.02.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The firm had revenue of $194.10 million during the quarter, compared to analysts’ expectations of $180.07 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. Sell-side analysts expect that Flywire will post 0.14 EPS for the current year.

Institutional Trading of Flywire

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of Flywire by 1.6% in the third quarter. Franklin Resources Inc. now owns 1,388,639 shares of the company’s stock valued at $18,802,000 after purchasing an additional 22,188 shares in the last quarter. Promus Capital LLC bought a new position in Flywire in the 3rd quarter valued at $1,000,000. Russell Investments Group Ltd. increased its stake in shares of Flywire by 220.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock valued at $138,000 after buying an additional 7,031 shares during the period. First Trust Advisors LP bought a new stake in shares of Flywire during the third quarter worth $2,270,000. Finally, Barclays PLC raised its position in shares of Flywire by 179.2% during the third quarter. Barclays PLC now owns 670,580 shares of the company’s stock worth $9,080,000 after acquiring an additional 430,359 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

Flywire Company Profile

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.