Morgan Stanley Forecasts Strong Price Appreciation for Flywire (NASDAQ:FLYW) Stock

Flywire (NASDAQ:FLYW) had its target price upped by analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 7.20% from the stock’s current price.

Several other research firms have also recently weighed in on FLYW. Citigroup lowered their target price on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Raymond James lifted their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.86.

Flywire Stock Performance

Flywire stock opened at $22.63 on Monday. Flywire has a 52 week low of $15.19 and a 52 week high of $31.54. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 150.87, a P/E/G ratio of 9.00 and a beta of 0.95. The company has a 50 day moving average price of $17.28 and a 200 day moving average price of $17.44.

Insider Buying and Selling

In other news, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the transaction, the chief operating officer now owns 473,648 shares of the company’s stock, valued at $8,198,846.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the sale, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at $31,377,892.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Comerica Bank increased its position in Flywire by 14.8% during the first quarter. Comerica Bank now owns 697,799 shares of the company’s stock worth $17,312,000 after acquiring an additional 90,003 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Flywire by 139.7% in the second quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock valued at $1,949,000 after buying an additional 69,304 shares during the period. Vanguard Group Inc. grew its position in Flywire by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in Flywire during the second quarter valued at about $734,000. Finally, Assenagon Asset Management S.A. acquired a new position in Flywire in the 3rd quarter valued at approximately $4,843,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.