The Goldman Sachs Group Issues Positive Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW) had its price objective upped by The Goldman Sachs Group from $22.00 to $27.00 in a research report released on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Citigroup cut their target price on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley lifted their price target on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Raymond James upped their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $20.00 to $18.00 in a report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and an average price target of $25.29.

Flywire Stock Up 1.9 %

Flywire stock opened at $23.14 on Monday. The business’s 50-day moving average price is $18.70 and its 200 day moving average price is $17.79. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 151.93, a price-to-earnings-growth ratio of 4.38 and a beta of 0.95. Flywire has a 52 week low of $15.19 and a 52 week high of $31.54.

Insider Buying and Selling

In related news, CTO David R. King sold 3,504 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 value of $60,654.24. Following the completion of the sale, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the transaction, the chief operating officer now directly owns 473,648 shares in the company, valued at $8,198,846.88. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,663 shares of company stock worth $149,957. 3.90% of the stock is owned by insiders.

Institutional Trading of Flywire

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Flywire in the second quarter worth approximately $26,000. Headlands Technologies LLC grew its holdings in shares of Flywire by 82.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after purchasing an additional 1,509 shares during the period. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire during the 2nd quarter worth about $64,000. Advisors Asset Management Inc. raised its holdings in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Flywire in the third quarter valued at about $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.