Flywire (NASDAQ:FLYW) Downgraded to Equal Weight Rating by Stephens

Stephens lowered shares of Flywire (NASDAQ:FLYW) from an overweight rating to an equal weight rating in a research report report published on Wednesday, Marketbeat reports. They currently have $15.00 target price on the stock, down from their prior target price of $26.00.

A number of other equities analysts also recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft increased their price target on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Citigroup cut their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a report on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Flywire has a consensus rating of “Hold” and an average price target of $20.64.

Flywire Stock Down 37.4 %

FLYW stock opened at $11.05 on Wednesday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Flywire has a 52-week low of $8.62 and a 52-week high of $31.54. The stock’s fifty day simple moving average is $19.40 and its 200-day simple moving average is $18.92.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) 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 business had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. As a group, analysts anticipate that Flywire will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLYW. Arizona State Retirement System increased its stake in Flywire by 1.6% during the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock worth $664,000 after buying an additional 513 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Flywire by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock worth $261,000 after acquiring an additional 802 shares during the last quarter. Bullseye Asset Management LLC lifted its stake in shares of Flywire by 0.7% in the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Bayesian Capital Management LP lifted its stake in shares of Flywire by 6.9% in the fourth quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock worth $414,000 after acquiring an additional 1,300 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.