Citigroup Cuts Flywire (NASDAQ:FLYW) Price Target to $13.00

Flywire (NASDAQ:FLYW) had its target price cut by Citigroup from $26.00 to $13.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the stock. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company cut their price target on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $18.23.

Flywire Price Performance

Shares of FLYW opened at $10.02 on Monday. The firm has a 50-day simple moving average of $15.63 and a two-hundred day simple moving average of $17.91. The stock has a market cap of $1.24 billion, a PE ratio of 66.80, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire has a 1-year low of $8.62 and a 1-year high of $25.10.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. As a group, sell-side analysts expect that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Flywire

In other news, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new stake in Flywire in the fourth quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new position in shares of Flywire during the 4th quarter worth approximately $48,000. Advisors Asset Management Inc. lifted its holdings in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flywire in the fourth quarter valued at approximately $77,000. Finally, KBC Group NV grew its holdings in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.