Flywire Co. (NASDAQ:FLYW) Given Average Rating of “Moderate Buy” by Analysts

Flywire Co. (NASDAQ:FLYW) has received a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.29.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target 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 raised their target price on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group lifted their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Morgan Stanley raised 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.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $21.13 on Tuesday. The stock has a market cap of $2.63 billion, a PE ratio of 140.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08. The business’s fifty day moving average price is $19.79 and its two-hundred day moving average price is $18.08. Flywire has a one year low of $15.19 and a one year high of $31.54.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in shares of Flywire by 5.3% in the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after purchasing an additional 112,218 shares during the period. Curi RMB Capital LLC bought a new stake in Flywire in the third quarter valued at about $1,143,000. FMR LLC raised its position in shares of 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 acquiring an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after purchasing an additional 1,006,516 shares during the period. Finally, Ensign Peak Advisors Inc bought a new position in Flywire in the second quarter worth about $734,000. 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.