Flywire (NASDAQ:FLYW) PT Lowered to $30.00 at Wells Fargo & Company

Flywire (NASDAQ:FLYW) had its price objective trimmed by Wells Fargo & Company from $35.00 to $30.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently commented on FLYW. Oppenheimer started coverage on shares of Flywire in a report on Tuesday, January 23rd. They issued an outperform rating and a $25.00 target price on the stock. UBS Group lifted their target price on shares of Flywire from $33.00 to $34.00 and gave the stock a buy rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a report on Tuesday, February 6th. They set a buy rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Flywire from $29.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, Citigroup dropped their price objective on shares of Flywire from $37.00 to $36.00 and set a buy rating on the stock in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $32.20.

Flywire Price Performance

Shares of FLYW opened at $17.24 on Monday. The company has a market capitalization of $2.12 billion, a PE ratio of -188.53, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09. Flywire has a one year low of $15.77 and a one year high of $35.80. The company’s fifty day moving average price is $23.59 and its 200 day moving average price is $23.17.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $114.10 million during the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS. Analysts anticipate that Flywire will post 0.03 earnings per share for the current year.

Insider Activity at Flywire

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total value of $313,945.01. Following the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Peter Butterfield sold 4,730 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the transaction, the general counsel now directly owns 214,678 shares in the company, valued at $5,860,709.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Massaro sold 13,043 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the sale, the chief executive officer now directly owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock valued at $3,743,582 over the last quarter. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flywire

Large investors have recently made changes to their positions in the stock. Raymond James & Associates increased its stake in Flywire by 118.6% in the 3rd quarter. Raymond James & Associates now owns 235,540 shares of the company’s stock valued at $7,511,000 after buying an additional 127,810 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Flywire by 133.2% in the third quarter. Bank of New York Mellon Corp now owns 843,046 shares of the company’s stock valued at $26,885,000 after acquiring an additional 481,467 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Flywire by 19.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,119 shares of the company’s stock worth $546,000 after acquiring an additional 2,805 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in Flywire by 447.6% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 56,115 shares of the company’s stock valued at $1,790,000 after purchasing an additional 45,868 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Flywire by 40.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,498,653 shares of the company’s stock valued at $47,792,000 after purchasing an additional 428,543 shares during the last quarter. 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.