Flywire (NASDAQ:FLYW) Price Target Raised to $12.00 at The Goldman Sachs Group

Flywire (NASDAQ:FLYW) had its price objective lifted by stock analysts at The Goldman Sachs Group from $10.00 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 10.19% from the stock’s previous close.

FLYW has been the topic of a number of other reports. Wells Fargo & Company lowered their price target on Flywire from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price target on Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.62.

Flywire Stock Down 2.1 %

Flywire stock opened at $10.89 on Thursday. Flywire has a 12 month low of $8.20 and a 12 month high of $23.40. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 72.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The business has a 50 day moving average price of $9.57 and a two-hundred day moving average price of $16.13.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $128.70 million for the quarter, compared to analyst estimates of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, analysts expect that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 5,523 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen Howard acquired 8,889 shares of the company’s stock in a transaction that occurred on 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 directly owns 30,770 shares of the company’s stock, valued at $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Flywire during the first quarter worth $236,000. XTX Topco Ltd increased its holdings in shares of Flywire by 21.9% in the first quarter. XTX Topco Ltd now owns 34,587 shares of the company’s stock worth $329,000 after acquiring an additional 6,224 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Flywire during the first quarter worth about $607,000. Federated Hermes Inc. bought a new position in shares of Flywire during the 1st quarter valued at about $11,733,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Flywire by 34.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,709 shares of the company’s stock valued at $406,000 after purchasing an additional 10,840 shares during the period. Institutional investors and hedge funds 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.