Flywire (NASDAQ:FLYW) Downgraded to “Equal Weight” Rating by Stephens

Stephens downgraded shares of Flywire (NASDAQ:FLYW) from an overweight rating to an equal weight rating in a research report released on Wednesday, MarketBeat Ratings reports. The firm currently has $15.00 target price on the stock, down from their prior target price of $26.00.

FLYW has been the subject of a number of other research reports. Citigroup decreased their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group cut shares of Flywire from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. Finally, Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $29.00 to $17.00 in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.64.

Flywire Stock Performance

Shares of Flywire stock opened at $11.05 on Wednesday. Flywire has a 1 year low of $8.62 and a 1 year high of $31.54. The firm’s 50-day simple moving average is $19.40 and its 200-day simple moving average is $18.92. The firm has a market cap of $1.37 billion, a PE ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data 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). The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, equities analysts predict that Flywire will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased 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 buying an additional 17,062 shares during the period. Jennison Associates LLC boosted its holdings in shares of Flywire by 5.3% in the third 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. Curi RMB Capital LLC acquired a new position in shares of Flywire during the third quarter valued at approximately $1,143,000. FMR LLC raised its holdings in Flywire by 3.6% during the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after purchasing an additional 326,120 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in Flywire by 19.3% in the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after purchasing an additional 1,006,516 shares during the period. 95.90% of the stock is currently 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.