Flywire (NASDAQ:FLYW) Price Target Cut to $13.00 by Analysts at Citigroup

Flywire (NASDAQ:FLYW) had its price target dropped by stock analysts at Citigroup from $26.00 to $13.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 24.40% from the company’s current price.

A number of other analysts have also recently weighed in on FLYW. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Raymond James lowered 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. The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.23.

Flywire Stock Performance

FLYW traded up $0.49 during trading on Monday, hitting $10.45. 3,957,590 shares of the stock were exchanged, compared to its average volume of 1,553,629. Flywire has a 1 year low of $8.62 and a 1 year high of $25.27. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 69.67, a P/E/G ratio of 1.41 and a beta of 1.17. The firm has a 50 day simple moving average of $16.18 and a 200 day simple moving average of $18.07.

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

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gretchen Howard bought 8,889 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently modified their holdings of FLYW. Global Retirement Partners LLC purchased a new stake in shares of Flywire in the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire during the fourth quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flywire during the fourth quarter valued at $77,000. Advisors Asset Management Inc. increased its stake in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after purchasing an additional 1,911 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.