Flywire (NASDAQ:FLYW) Given New $26.00 Price Target at BTIG Research

Flywire (NASDAQ:FLYW) had its target price lowered by equities research analysts at BTIG Research from $27.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 42.31% from the company’s current price.

Other analysts have also recently issued reports about the company. Wedbush reissued a “neutral” rating and issued a $18.00 target price on shares of Flywire in a research report on Thursday, May 23rd. William Blair restated an “outperform” rating on shares of Flywire in a research report on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on shares of Flywire from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, UBS Group dropped their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Flywire Trading Up 2.8 %

FLYW stock traded up $0.50 during midday trading on Wednesday, hitting $18.27. 3,858,257 shares of the company’s stock were exchanged, compared to its average volume of 1,541,676. Flywire has a 1-year low of $15.19 and a 1-year high of $35.80. The stock has a market capitalization of $2.27 billion, a PE ratio of -166.09, a P/E/G ratio of 5.47 and a beta of 0.98. The business has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $20.37.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. As a group, research analysts expect that Flywire will post 0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Flywire in the first quarter worth approximately $46,000. Quest Partners LLC acquired a new position in Flywire in the 4th quarter worth approximately $52,000. Daiwa Securities Group Inc. acquired a new stake in Flywire during the 2nd quarter valued at $64,000. Advisors Asset Management Inc. lifted its holdings in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after buying an additional 733 shares during the period. Hedge funds and other 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.