Flywire (NASDAQ:FLYW) Price Target Lowered to $13.00 at Citigroup

Flywire (NASDAQ:FLYW) had its price target decreased by Citigroup from $26.00 to $13.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on FLYW. Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. UBS Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Finally, Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.23.

Flywire Price Performance

FLYW stock opened at $10.06 on Monday. The firm has a market cap of $1.24 billion, a PE ratio of 67.07, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire has a 12 month low of $8.62 and a 12 month high of $25.27. The firm has a 50 day simple moving average of $16.00 and a 200 day simple moving average of $18.02.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, sell-side analysts expect that Flywire will post 0.14 earnings per share for the current year.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gretchen Howard acquired 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after purchasing an additional 781,711 shares in the last quarter. FMR LLC boosted 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 acquiring an additional 326,120 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. State Street Corp raised its stake in shares of Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after acquiring an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Flywire by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after purchasing an additional 28,944 shares during the last quarter. 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.