Flywire (NASDAQ:FLYW) Given New $16.00 Price Target at Wells Fargo & Company

Flywire (NASDAQ:FLYW) had its price target reduced by Wells Fargo & Company from $20.00 to $16.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts have also issued reports about the stock. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $26.00 to $15.00 in a research report on Wednesday. Citigroup cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $16.00 in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Finally, Morgan Stanley upped their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.23.

Flywire Stock Performance

NASDAQ FLYW opened at $11.40 on Wednesday. Flywire has a 52-week low of $8.62 and a 52-week high of $29.53. The company has a market capitalization of $1.42 billion, a P/E ratio of 76.00, a P/E/G ratio of 1.41 and a beta of 1.08. The company has a fifty day moving average of $19.03 and a 200-day moving average of $18.83.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (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 for the quarter, compared to the consensus estimate of $118.85 million. As a group, analysts forecast that Flywire will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

Institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new position in Flywire in the fourth quarter worth about $30,000. Arcadia Investment Management Corp MI bought a new position in Flywire in the fourth quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire in the fourth quarter worth about $77,000. Advisors Asset Management Inc. raised its stake in 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 in the last quarter. Finally, KBC Group NV raised its stake in Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares in the last quarter. 95.90% of the stock is 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.