Flywire (NASDAQ:FLYW) Trading Up 5.7% – Still a Buy?

Flywire Co. (NASDAQ:FLYW)’s share price rose 5.7% during mid-day trading on Monday . The stock traded as high as $18.89 and last traded at $18.82. Approximately 740,714 shares traded hands during trading, a decline of 42% from the average daily volume of 1,271,058 shares. The stock had previously closed at $17.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FLYW shares. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research note on Thursday. Raymond James upped their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Morgan Stanley lifted their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flywire has a consensus rating of “Moderate Buy” and an average price target of $25.29.

Flywire Trading Up 6.8 %

The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 126.73, a P/E/G ratio of 3.03 and a beta of 1.10. The firm has a 50 day moving average price of $20.88 and a 200-day moving average price of $18.55.

Hedge Funds Weigh In On Flywire

Hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake 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 purchasing an additional 539 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Flywire by 3.1% during the second quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after buying an additional 908 shares during the period. Bullseye Asset Management LLC boosted its position in Flywire by 0.7% during the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after acquiring an additional 1,000 shares during the last quarter. Truist Financial Corp grew its stake in Flywire by 6.2% in the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock worth $319,000 after acquiring an additional 1,128 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Flywire by 7.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,295 shares of the company’s stock valued at $349,000 after acquiring an additional 1,411 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.