Truist Financial Issues Pessimistic Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW) had its price target lowered by equities researchers at Truist Financial from $17.00 to $16.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 24.51% from the company’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada boosted their price objective on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. B. Riley Financial boosted their price target on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Zacks Research upgraded shares of Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Morgan Stanley upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $15.00 to $17.00 in a research note on Monday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.58.

Flywire Trading Up 2.3%

Shares of NASDAQ FLYW opened at $12.85 on Tuesday. The stock has a market cap of $1.57 billion, a P/E ratio of 128.51, a PEG ratio of 1.26 and a beta of 1.28. Flywire has a 12-month low of $8.20 and a 12-month high of $15.25. The business’s fifty day simple moving average is $12.84 and its 200-day simple moving average is $13.25.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, topping the consensus estimate of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The firm had revenue of $157.54 million during the quarter, compared to analysts’ expectations of $144.96 million. During the same period in the previous year, the firm posted ($0.12) EPS. Flywire’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, equities analysts forecast that Flywire will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Voss Capital, Lp acquired 25,000 shares of the company’s stock in a transaction on Friday, February 13th. The shares were bought at an average price of $10.99 per share, with a total value of $274,750.00. Following the completion of the acquisition, the insider owned 2,300,000 shares in the company, valued at $25,277,000. This trade represents a 1.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 13,327 shares of Flywire stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total value of $200,038.27. Following the sale, the general counsel owned 374,933 shares in the company, valued at $5,627,744.33. This trade represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 251,112 shares of company stock worth $3,477,834 and have sold 38,426 shares worth $567,215. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Flywire by 18.3% in the fourth quarter. Invesco Ltd. now owns 176,827 shares of the company’s stock valued at $2,504,000 after buying an additional 27,296 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Flywire in the 4th quarter valued at $166,000. Wellington Management Group LLP increased its stake in Flywire by 43.8% in the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after purchasing an additional 1,470,011 shares during the period. Numerai GP LLC acquired a new position in Flywire in the fourth quarter valued at $362,000. Finally, Interval Partners LP raised its holdings in shares of Flywire by 188.5% in the fourth quarter. Interval Partners LP now owns 667,942 shares of the company’s stock valued at $9,458,000 after buying an additional 436,385 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.