Flywire (NASDAQ:FLYW) Price Target Cut to $11.00 by Analysts at The Goldman Sachs Group

Flywire (NASDAQ:FLYW) had its price target lowered by The Goldman Sachs Group from $15.00 to $11.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

FLYW has been the topic of a number of other research reports. Morgan Stanley dropped their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup cut their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.92.

Flywire Trading Up 2.8 %

NASDAQ FLYW opened at $9.83 on Wednesday. The firm has a market capitalization of $1.21 billion, a P/E ratio of 65.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The firm’s fifty day moving average price is $14.62 and its two-hundred day moving average price is $17.64. Flywire has a 1 year low of $8.62 and a 1 year high of $24.33.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, research analysts anticipate that Flywire will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently modified their holdings of FLYW. Raymond James Financial Inc. acquired a new position in Flywire during the fourth quarter worth about $35,579,000. Voss Capital LP bought a new stake in shares of Flywire during the 4th quarter valued at approximately $30,621,000. Teacher Retirement System of Texas acquired a new position in Flywire during the 4th quarter worth approximately $24,363,000. Jennison Associates LLC lifted its stake in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in Flywire by 62.1% in the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after buying an additional 1,049,888 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.