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

Flywire (NASDAQ:FLYW) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a report released on Wednesday,Briefing.com Automated Import reports. They presently have a $15.00 price objective on the stock, down from their prior price objective of $26.00. Stephens’ target price would suggest a potential downside of 14.97% from the company’s current price.

A number of other brokerages have also recently weighed in on FLYW. Citigroup dropped their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group cut Flywire from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Flywire presently has a consensus rating of “Hold” and an average price target of $22.36.

Flywire Stock Up 1.8 %

FLYW stock opened at $17.64 on Wednesday. The company has a market capitalization of $2.19 billion, a PE ratio of 117.60, a P/E/G ratio of 1.41 and a beta of 1.08. The stock’s 50 day moving average is $19.59 and its two-hundred day moving average is $18.98. Flywire has a 52-week low of $15.19 and a 52-week high of $31.54.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $118.85 million. As a group, sell-side analysts anticipate that Flywire will post 0.14 EPS for the current year.

Institutional Trading of Flywire

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after buying an additional 781,711 shares in the last quarter. FMR LLC lifted its position in Flywire by 3.6% during the 3rd 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 last quarter. Westfield Capital Management Co. LP increased 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. Jennison Associates LLC raised 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 acquiring an additional 1,179,562 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after acquiring an additional 145,894 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.