B. Riley Cuts Flywire (NASDAQ:FLYW) Price Target to $15.00

Flywire (NASDAQ:FLYW) had its price target dropped by analysts at B. Riley from $17.00 to $15.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 36.55% from the stock’s current price.

Several other equities analysts have also commented on FLYW. Wolfe Research reaffirmed a “peer perform” rating on shares of Flywire in a report on Wednesday, April 23rd. Royal Bank Of Canada decreased their price objective on Flywire from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Morgan Stanley lowered their target price on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Truist Financial started coverage on Flywire in a research report on Monday, June 2nd. They set a “buy” rating and a $12.00 price target on the stock. Finally, Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

Flywire Price Performance

FLYW stock traded up $0.14 during midday trading on Monday, reaching $10.99. The company had a trading volume of 1,258,528 shares, compared to its average volume of 1,852,253. The firm has a 50-day moving average price of $10.25 and a 200-day moving average price of $14.02. The company has a market capitalization of $1.34 billion, a P/E ratio of 274.63, a P/E/G ratio of 1.51 and a beta of 1.27. Flywire has a 1 year low of $8.20 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 2.02.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. Flywire had a net margin of 0.97% and a return on equity of 1.57%. The company had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, research analysts anticipate that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Edwin J. Santos sold 5,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 16,990 shares of the company’s stock, valued at $178,395. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Flywire

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Flywire during the fourth quarter valued at $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire in the fourth quarter worth approximately $77,000. Venturi Wealth Management LLC purchased a new position in shares of Flywire during the 4th quarter worth $104,000. JT Stratford LLC bought a new stake in shares of Flywire during the 1st quarter valued at $109,000. Finally, Dakota Wealth Management grew its position in shares of Flywire by 8.7% during the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company’s stock valued at $127,000 after acquiring an additional 1,066 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.