Flywire (NASDAQ:FLYW) Price Target Raised to $27.00 at Raymond James

Flywire (NASDAQ:FLYW) had its price target increased by Raymond James from $23.00 to $27.00 in a research report report published on Friday,Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other equities research analysts also recently weighed in on FLYW. Royal Bank of Canada cut their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. BTIG Research lowered their target price on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Citigroup lowered their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.50.

Flywire Price Performance

Shares of NASDAQ FLYW traded up $2.69 during trading hours on Friday, reaching $20.99. 5,427,563 shares of the stock were exchanged, compared to its average volume of 893,824. Flywire has a 52 week low of $15.19 and a 52 week high of $31.54. The stock’s fifty day simple moving average is $17.18 and its 200 day simple moving average is $17.48.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same period in the prior year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts predict that Flywire will post 0.05 earnings per share for the current year.

Insider Buying and Selling at Flywire

In other Flywire news, CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the sale, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Michael Massaro sold 8,629 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the transaction, the chief executive officer now owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO David R. King sold 3,504 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the transaction, the chief technology officer now directly owns 616,680 shares in the company, valued at approximately $10,674,730.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock valued at $480,143 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its holdings in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Flywire by 3.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after purchasing an additional 702 shares during the period. Arizona State Retirement System boosted its position in Flywire by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after acquiring an additional 908 shares in the last quarter. Truist Financial Corp boosted its position in Flywire by 6.2% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after acquiring an additional 1,128 shares in the last quarter. Finally, Ascent Group LLC boosted its position in shares of Flywire by 10.1% in the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock worth $351,000 after purchasing an additional 1,300 shares in the last quarter. 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.