Citigroup Cuts Flywire (NASDAQ:FLYW) Price Target to $26.00

Flywire (NASDAQ:FLYW) had its target price trimmed by Citigroup from $27.00 to $26.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. Raymond James boosted their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley lifted their price target on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price objective on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.36.

Flywire Stock Up 0.7 %

Shares of Flywire stock opened at $20.09 on Tuesday. The business has a fifty day simple moving average of $20.98 and a 200-day simple moving average of $18.60. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 133.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently modified their holdings of FLYW. Assenagon Asset Management S.A. raised its holdings in shares of Flywire by 33.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 393,200 shares of the company’s stock worth $8,108,000 after acquiring an additional 97,687 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Flywire by 0.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company’s stock worth $4,635,000 after purchasing an additional 1,531 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Flywire during the 3rd quarter worth about $209,000. Geode Capital Management LLC lifted its holdings in shares of Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after buying an additional 17,062 shares during the last quarter. Finally, Brophy Wealth Management LLC bought a new stake in shares of Flywire in the 3rd quarter valued at approximately $263,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Flywire

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.