Flywire (NASDAQ:FLYW) Downgraded to “Neutral” Rating by The Goldman Sachs Group

Flywire (NASDAQ:FLYW) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. They currently have a $15.00 price objective on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 14.97% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Citigroup dropped 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. Raymond James increased their price objective 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. 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. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Flywire has a consensus rating of “Hold” and a consensus price target of $22.36.

Flywire Stock Performance

FLYW stock opened at $17.64 on Wednesday. Flywire has a 52-week low of $15.19 and a 52-week high of $31.54. The firm has a 50 day moving average price of $19.59 and a 200-day moving average price of $18.98. The firm 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.

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

Institutional Investors Weigh In On Flywire

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

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.