Flywire (NASDAQ:FLYW) Earns Outperform Rating from Royal Bank of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $25.00 price target on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 40.45% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Raymond James upped their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. B. Riley restated a “buy” rating and issued a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. The Goldman Sachs Group upped their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.29.

Flywire Stock Performance

Shares of Flywire stock opened at $17.80 on Thursday. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The company has a market capitalization of $2.21 billion, a P/E ratio of 118.67, a P/E/G ratio of 3.03 and a beta of 1.10. The company has a fifty day moving average of $20.88 and a 200 day moving average of $18.52.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its position in shares of Flywire by 0.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company’s stock valued at $4,635,000 after purchasing an additional 1,531 shares during the last quarter. World Investment Advisors LLC bought a new position in Flywire during the third quarter valued at $209,000. Geode Capital Management LLC increased its position in Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after acquiring an additional 17,062 shares during the last quarter. Brophy Wealth Management LLC bought a new stake in shares of Flywire in the 3rd quarter worth about $263,000. Finally, Bullseye Asset Management LLC boosted its stake in shares of Flywire by 0.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after purchasing an additional 1,000 shares during the period. 95.90% of the stock is currently 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.