Flywire (NASDAQ:FLYW) Stock Price Up 5.7% – What’s Next?

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley raised their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. B. Riley restated a “buy” rating and issued a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. Finally, Citigroup lowered their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday. Five 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.36.

Flywire Trading Up 4.8 %

The business’s 50-day moving average price is $20.94 and its 200-day moving average price is $18.59. The stock has a market cap of $2.48 billion, a PE ratio of 133.00, a P/E/G ratio of 3.03 and a beta of 1.10.

Institutional Inflows and Outflows

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