Wells Fargo & Company Cuts Flywire (NASDAQ:FLYW) Price Target to $16.00

Flywire (NASDAQ:FLYW) had its target price lowered by Wells Fargo & Company from $20.00 to $16.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $26.00 to $15.00 in a research note on Wednesday. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $29.00 to $17.00 in a research note on Wednesday. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $15.00 in a research note on Wednesday. Finally, UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $15.00 in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.23.

Flywire Stock Performance

NASDAQ:FLYW opened at $11.40 on Wednesday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 76.00, 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 $29.53. The firm has a 50-day moving average price of $19.03 and a two-hundred day moving average price of $18.83.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data 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 firm had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. As a group, sell-side analysts forecast that Flywire will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLYW. Raymond James Financial Inc. bought a new position in Flywire in the 4th quarter valued at $35,579,000. Voss Capital LP bought a new position in Flywire in the 4th quarter valued at $30,621,000. Teacher Retirement System of Texas bought a new position in Flywire in the 4th quarter valued at $24,363,000. Jennison Associates LLC boosted its holdings in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in Flywire by 62.1% in the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after purchasing an additional 1,049,888 shares during the period. 95.90% of the stock is owned by institutional investors.

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.