Flywire Co. (NASDAQ:FLYW) Receives $46.00 Consensus Target Price from Brokerages

Flywire Co. (NASDAQ:FLYW) has been assigned an average recommendation of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $46.00.

A number of brokerages recently issued reports on FLYW. Citigroup lifted their price target on shares of Flywire from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10th. Raymond James lifted their price target on Flywire from $48.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, November 10th. Royal Bank of Canada raised their target price on Flywire from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 10th. Finally, Zacks Investment Research lowered shares of Flywire from a “buy” rating to a “hold” rating in a research note on Wednesday.

In related news, General Counsel Peter Butterfield sold 8,000 shares of the business’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $43.47, for a total value of $347,760.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO David R. King sold 42,886 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $43.62, for a total transaction of $1,870,687.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,386 shares of company stock worth $3,906,097.

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new position in shares of Flywire during the second quarter worth about $36,000. FourThought Financial LLC bought a new position in shares of Flywire in the third quarter worth $54,000. Rockefeller Capital Management L.P. acquired a new position in shares of Flywire during the third quarter valued at $56,000. Citigroup Inc. bought a new stake in shares of Flywire during the third quarter valued at about $60,000. Finally, Highlander Capital Management LLC bought a new position in Flywire in the 2nd quarter valued at about $73,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ FLYW traded up $4.58 during midday trading on Thursday, hitting $41.88. 1,972,623 shares of the stock traded hands, compared to its average volume of 483,251. The stock has a 50-day moving average price of $45.85. Flywire has a one year low of $27.63 and a one year high of $57.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.67 and a quick ratio of 4.67.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, November 9th. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.11. The firm had revenue of $67.79 million during the quarter, compared to the consensus estimate of $51.32 million. Equities research analysts anticipate that Flywire will post -0.19 EPS for the current year.

About Flywire

Flywire Corporation operates as a payment 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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

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Analyst Recommendations for Flywire (NASDAQ:FLYW)

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