Flywire (NASDAQ:FLYW) Shares Gap Down on Analyst Downgrade

Shares of Flywire Co. (NASDAQ:FLYW) gapped down prior to trading on Tuesday after Seaport Res Ptn downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $19.01, but opened at $18.61. Flywire shares last traded at $19.17, with a volume of 74,358 shares trading hands.

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft increased their target price on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. The Goldman Sachs Group increased their target price on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research note on Thursday, January 9th. Morgan Stanley raised their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, B. Riley restated a “buy” rating and set a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.36.

Institutional Trading of Flywire

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after acquiring an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Flywire by 19.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after acquiring an additional 1,006,516 shares in the last quarter. State Street Corp raised its stake in 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. Geode Capital Management LLC raised its stake in Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after acquiring an additional 17,062 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after acquiring an additional 112,218 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 1.4 %

The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 134.80, a PEG ratio of 1.47 and a beta of 1.10. The firm has a 50-day moving average price of $20.94 and a 200-day moving average price of $18.59.

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.