Raymond James Issues Positive Forecast for Flywire (NASDAQ:FLYW) Stock Price

by · The Cerbat Gem

Flywire (NASDAQ:FLYW – Free Report) had its price objective boosted by Raymond James from $23.00 to $27.00 in a report released on Friday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

A number of other research firms have also issued reports on FLYW. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $18.00 in a report on Friday, October 11th. Citigroup dropped their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. BTIG Research dropped their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Four equities research 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. According to data from MarketBeat.com, Flywire has an average rating of “Moderate Buy” and an average price target of $25.50.

Read Our Latest Research Report on Flywire

Flywire Price Performance

Shares of Flywire stock traded up $2.69 on Friday, hitting $20.99. The company’s stock had a trading volume of 5,427,563 shares, 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 firm has a fifty day moving average price of $17.18 and a 200-day moving average price of $17.48.

Flywire (NASDAQ:FLYW – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. Flywire’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.15) earnings per share. On average, equities research analysts predict that Flywire will post 0.05 EPS for the current fiscal year.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 1,769 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO David R. King sold 3,353 shares of Flywire stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the transaction, the chief technology officer now owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. William Blair Investment Management LLC grew its stake in Flywire by 125.1% in the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after acquiring an additional 6,519,598 shares during the period. Primecap Management Co. CA boosted its position in shares of Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after buying an additional 1,407,180 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Flywire during the second quarter worth about $12,642,000. Blair William & Co. IL boosted its position in shares of Flywire by 33.4% during the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after buying an additional 453,183 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in shares of Flywire by 10.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,837,491 shares of the company’s stock worth $120,018,000 after buying an additional 450,760 shares during the period. Institutional investors own 95.90% of the company’s stock.

About Flywire

(Get Free Report)

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.

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