Flywire (NASDAQ:FLYW) Given New $20.00 Price Target at Wells Fargo & Company

Flywire (NASDAQ:FLYW) had its price objective reduced by analysts at Wells Fargo & Company from $25.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.87% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada cut their price objective on Flywire from $41.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Wedbush reiterated a “neutral” rating and issued a $18.00 price target on shares of Flywire in a report on Thursday, May 23rd. William Blair reiterated an “outperform” rating on shares of Flywire in a report on Wednesday, May 8th. UBS Group cut their price target on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Finally, The Goldman Sachs Group cut their price target on Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

Flywire Trading Up 3.4 %

Shares of NASDAQ:FLYW traded up $0.60 during trading on Wednesday, hitting $18.37. 1,369,597 shares of the stock were exchanged, compared to its average volume of 1,524,562. The company has a fifty day moving average price of $17.07 and a two-hundred day moving average price of $20.37. The company has a market cap of $2.28 billion, a PE ratio of -164.64, a P/E/G ratio of 5.47 and a beta of 0.98. Flywire has a 12-month low of $15.19 and a 12-month high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The company had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities research analysts anticipate that Flywire will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Institutional investors have recently added to or reduced their stakes in the business. Nebula Research & Development LLC purchased a new stake in Flywire during the 4th quarter worth $1,082,000. Bullseye Asset Management LLC boosted its position in Flywire by 123.4% during the 4th quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock worth $2,276,000 after purchasing an additional 54,306 shares during the period. Eagle Asset Management Inc. purchased a new stake in Flywire during the 4th quarter worth $9,505,000. Primecap Management Co. CA boosted its position in Flywire by 671.2% during the 4th quarter. Primecap Management Co. CA now owns 147,300 shares of the company’s stock worth $3,410,000 after purchasing an additional 128,200 shares during the period. Finally, Vanguard Group Inc. boosted its position in Flywire by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after purchasing an additional 243,523 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.