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

by · The Markets Daily

Flywire (NASDAQ:FLYW – Get Free Report)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a research note issued to investors on Thursday,Benzinga reports. They presently have a $25.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 33.55% from the company’s previous close.

Several other brokerages have also recently commented on FLYW. Deutsche Bank Aktiengesellschaft raised their price target on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group lifted their target price on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Morgan Stanley lifted their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.29.

Check Out Our Latest Stock Report on FLYW

Flywire Stock Performance

Shares of FLYW traded down $0.54 during mid-day trading on Thursday, hitting $18.72. 1,225,819 shares of the company’s stock were exchanged, compared to its average volume of 1,170,264. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 124.80, a P/E/G ratio of 3.03 and a beta of 1.08. The stock’s 50-day moving average is $20.85 and its 200-day moving average is $18.50. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Institutional Trading of Flywire

A number of large investors have recently bought and sold shares of FLYW. William Blair Investment Management LLC lifted its holdings in shares of Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after purchasing an additional 6,519,598 shares during the period. Primecap Management Co. CA lifted its stake in shares of Flywire by 253.3% in the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after acquiring an additional 1,407,180 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of 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 acquiring an additional 1,006,516 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Flywire during the second quarter worth about $12,642,000. Finally, Blair William & Co. IL raised its holdings in Flywire by 33.4% during the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after purchasing an additional 453,183 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Flywire

(Get Free Report)

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.

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