The Goldman Sachs Group Downgrades Flywire (NASDAQ:FLYW) to Neutral

Flywire (NASDAQ:FLYW) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They presently have a $15.00 price target on the stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 14.97% from the company’s current price.

Several other research analysts have also issued reports on FLYW. Deutsche Bank Aktiengesellschaft upped their target price on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Raymond James increased their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley upped their target price on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Citigroup reduced their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.36.

Flywire Stock Up 1.8 %

FLYW opened at $17.64 on Wednesday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 117.60, a PEG ratio of 1.41 and a beta of 1.08. The firm has a 50 day moving average price of $19.59 and a 200-day moving average price of $18.98. Flywire has a twelve month low of $15.19 and a twelve month high of $31.54.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. As a group, analysts expect that Flywire will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of the business. Ascent Group LLC lifted its position in shares of Flywire by 19.7% during the 4th quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock worth $695,000 after buying an additional 5,545 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Flywire by 72.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after buying an additional 60,210 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Flywire during the 4th quarter worth approximately $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Flywire by 16.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock valued at $14,668,000 after buying an additional 101,431 shares during the last quarter. Finally, Vident Advisory LLC purchased a new stake in Flywire in the 4th quarter valued at $235,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.