The Goldman Sachs Group Boosts Flywire (NASDAQ:FLYW) Price Target to $27.00

Flywire (NASDAQ:FLYW) had its price target lifted by investment analysts at The Goldman Sachs Group from $22.00 to $27.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 18.94% from the company’s previous close.

A number of other brokerages have also recently issued reports on FLYW. BTIG Research cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Raymond James upped their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Finally, Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Flywire presently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Flywire Stock Down 1.9 %

Shares of NASDAQ:FLYW opened at $22.70 on Monday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 151.33, a PEG ratio of 3.90 and a beta of 1.08. The firm’s 50-day simple moving average is $18.84 and its 200-day simple moving average is $17.83. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Insider Activity at Flywire

In other news, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the transaction, the chief operating officer now owns 473,648 shares in the company, valued at approximately $8,198,846.88. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO David R. King sold 3,504 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the completion of the transaction, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,663 shares of company stock worth $149,957 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

A number of hedge funds have recently made changes to their positions in FLYW. Quarry LP bought a new position in Flywire during the second quarter worth $26,000. Headlands Technologies LLC increased its holdings in Flywire by 82.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after buying an additional 1,509 shares during the period. Daiwa Securities Group Inc. bought a new stake in Flywire in the 2nd quarter valued at $64,000. Advisors Asset Management Inc. increased 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 bought a new stake in Flywire in the 3rd quarter valued at $149,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.