Flywire’s (FLYW) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Flywire (NASDAQ:FLYW) in a research report report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $25.00 price objective on the stock.

A number of other analysts have also recently weighed in 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 report on Monday, December 2nd. Wells Fargo & Company lowered shares of 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. Raymond James raised their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 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 report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.29.

Flywire Trading Down 2.8 %

FLYW opened at $18.72 on Thursday. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The stock has a fifty day moving average price of $20.87 and a 200-day moving average price of $18.51. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 124.80, a PEG ratio of 3.03 and a beta of 1.08.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of FLYW. Geode Capital Management LLC raised its position in Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after acquiring an additional 17,062 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after purchasing an additional 112,218 shares during the period. Curi RMB Capital LLC purchased a new position in shares of Flywire during the 3rd quarter valued at approximately $1,143,000. FMR LLC lifted its stake in shares of Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after purchasing an additional 326,120 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in 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 buying an additional 1,006,516 shares in the last quarter. 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.