Flywire (NASDAQ:FLYW) Price Target Raised to $16.00

Flywire (NASDAQ:FLYW) had its target price raised by equities researchers at The Goldman Sachs Group from $14.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 11.21% from the stock’s previous close.

FLYW has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a research note on Wednesday, October 8th. Wall Street Zen upgraded Flywire from a “sell” rating to a “hold” rating in a research report on Sunday, August 10th. UBS Group reiterated a “neutral” rating and set a $15.50 price objective on shares of Flywire in a research report on Wednesday. Citigroup upgraded shares of Flywire to a “hold” rating in a report on Thursday, October 23rd. Finally, Zacks Research downgraded shares of Flywire from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.73.

Flywire Stock Performance

Shares of Flywire stock traded up $0.58 during trading hours on Wednesday, hitting $14.39. 1,982,315 shares of the company were exchanged, compared to its average volume of 2,382,231. Flywire has a 1 year low of $8.20 and a 1 year high of $23.40. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $13.25 and a 200-day moving average of $11.83. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 287.00, a P/E/G ratio of 3.50 and a beta of 1.29.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Flywire had a return on equity of 1.94% and a net margin of 1.27%.The business had revenue of $194.10 million during the quarter, compared to the consensus estimate of $180.07 million. During the same period in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. As a group, analysts expect that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Trading of Flywire

A number of institutional investors have recently added to or reduced their stakes in FLYW. Voss Capital LP boosted its position in Flywire by 176.0% during the 2nd quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock worth $94,770,000 after purchasing an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP boosted its position in shares of Flywire by 178.0% in the second quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock worth $55,980,000 after buying an additional 3,063,518 shares during the period. Azora Capital LP purchased a new stake in shares of Flywire in the second quarter worth about $33,355,000. Wellington Management Group LLP purchased a new position in Flywire in the 1st quarter worth approximately $15,782,000. Finally, Federated Hermes Inc. purchased a new position in Flywire in the 1st quarter worth approximately $11,733,000. 95.90% of the stock is 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.