Flywire Co. (NASDAQ:FLYW) Given Average Rating of “Moderate Buy” by Brokerages

Flywire Co. (NASDAQ:FLYW) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $25.29.

FLYW has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Raymond James boosted their target price on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 2nd.

Flywire Price Performance

Flywire stock opened at $21.13 on Tuesday. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54. The stock has a market cap of $2.63 billion, a PE ratio of 140.87, a P/E/G ratio of 3.10 and a beta of 1.08. The stock’s fifty day moving average is $19.79 and its two-hundred day moving average is $18.08.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Jennison Associates LLC grew its holdings in Flywire by 5.3% during the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after acquiring an additional 112,218 shares during the period. Curi RMB Capital LLC purchased a new stake in shares of Flywire during the 3rd quarter worth $1,143,000. FMR LLC grew its stake in shares of Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after purchasing an additional 326,120 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after purchasing an additional 1,006,516 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Flywire during the 2nd quarter worth approximately $734,000. Institutional investors and hedge funds 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.