Flywire (NASDAQ:FLYW) Given “Outperform” Rating at Royal Bank of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 40.45% from the company’s previous close.

A number of other brokerages have also commented on FLYW. The Goldman Sachs Group raised their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Raymond James raised their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Four investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.29.

Flywire Trading Down 4.9 %

Shares of FLYW opened at $17.80 on Thursday. The firm has a fifty day moving average price of $20.88 and a 200-day moving average price of $18.52. The firm has a market capitalization of $2.21 billion, a P/E ratio of 118.67, a P/E/G ratio of 3.03 and a beta of 1.10. Flywire has a 12-month low of $15.19 and a 12-month high of $31.54.

Institutional Investors Weigh In On Flywire

Several institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC lifted its holdings in shares of Flywire by 125.1% during the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. FMR LLC increased its position in Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after buying an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP raised its stake 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 buying an additional 1,006,516 shares during the last quarter. State Street Corp boosted its holdings in Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after acquiring an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after acquiring an additional 17,062 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.