Flywire (NASDAQ:FLYW) Downgraded by Wells Fargo & Company

Wells Fargo & Company lowered shares of Flywire (NASDAQ:FLYW) from an overweight rating to an equal weight rating in a report issued on Friday morning, Marketbeat Ratings reports. They currently have $18.00 target price on the stock, down from their prior target price of $20.00.

A number of other equities analysts have also recently commented on FLYW. JPMorgan Chase & Co. lifted their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a neutral rating in a research report on Tuesday, August 20th. BTIG Research dropped their target price on Flywire from $27.00 to $26.00 and set a buy rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Flywire from $25.00 to $22.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on Flywire from $34.00 to $25.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. Finally, B. Riley restated a buy rating and issued a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $26.07.

Flywire Stock Performance

Shares of FLYW opened at $16.49 on Friday. The stock has a 50-day moving average price of $17.21 and a 200-day moving average price of $18.20. The company has a market cap of $2.05 billion, a PE ratio of -149.91, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97. Flywire has a 12-month low of $15.19 and a 12-month high of $31.54.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. During the same quarter last year, the business posted ($0.15) EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, analysts predict that Flywire will post 0.05 earnings per share for the current year.

Insider Transactions at Flywire

In related news, CTO David R. King sold 3,504 shares of Flywire stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the sale, the chief technology officer now directly owns 616,680 shares in the company, valued at $10,674,730.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CTO David R. King sold 3,353 shares of Flywire stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David R. King sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now directly owns 616,680 shares in the company, valued at approximately $10,674,730.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,966 shares of company stock valued at $480,143. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLYW. Bullseye Asset Management LLC grew its stake in shares of Flywire by 123.4% in the fourth quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock worth $2,276,000 after acquiring an additional 54,306 shares during the last quarter. Vanguard Group Inc. grew its position in Flywire by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after purchasing an additional 243,523 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in Flywire during the 1st quarter valued at about $4,274,000. Comerica Bank increased its stake in Flywire by 14.8% during the 1st quarter. Comerica Bank now owns 697,799 shares of the company’s stock valued at $17,312,000 after purchasing an additional 90,003 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Flywire by 139.7% in the second quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock worth $1,949,000 after buying an additional 69,304 shares during the last quarter. 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.