Morgan Stanley Forecasts Strong Price Appreciation for Flywire (NASDAQ:FLYW) Stock

Flywire (NASDAQ:FLYW) had its price objective upped by investment analysts at Morgan Stanley from $20.00 to $21.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 7.20% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada dropped their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Citigroup cut their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $20.00 to $18.00 in a report on Friday, October 11th. BTIG Research reduced their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.86.

Flywire Stock Down 2.3 %

NASDAQ FLYW opened at $22.63 on Monday. The stock has a market cap of $2.83 billion, a P/E ratio of 150.87, a PEG ratio of 9.00 and a beta of 0.95. Flywire has a twelve month low of $15.19 and a twelve month high of $31.54. The company’s 50-day simple moving average is $17.28 and its 200 day simple moving average is $17.44.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David R. King sold 3,353 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the sale, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Westfield Capital Management Co. LP increased its holdings in Flywire by 19.3% in the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after purchasing an additional 1,006,516 shares during the last quarter. Sompo Asset Management Co. Ltd. grew its position in shares of Flywire by 8.0% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 34,060 shares of the company’s stock worth $558,000 after buying an additional 2,510 shares during the period. Eagle Asset Management Inc. increased its stake in shares of Flywire by 7.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 911,363 shares of the company’s stock valued at $14,937,000 after acquiring an additional 65,625 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Flywire by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 931,914 shares of the company’s stock valued at $15,274,000 after acquiring an additional 21,655 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in Flywire during the 3rd quarter worth approximately $275,000. 95.90% of the stock is currently owned by 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.