Morgan Stanley Lowers Flywire (NASDAQ:FLYW) Price Target to $15.00

Flywire (NASDAQ:FLYW) had its price target cut by research analysts at Morgan Stanley from $21.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 37.49% from the stock’s current price.

Other equities analysts also recently issued reports about the company. BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday. UBS Group lowered Flywire from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $15.00 in a research report on Wednesday. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $15.00 in a report on Wednesday. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $29.00 to $17.00 in a research note on Wednesday. Finally, Stephens downgraded Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.64.

Flywire Stock Down 1.3 %

Shares of NASDAQ FLYW opened at $10.91 on Wednesday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 72.73, a PEG ratio of 1.41 and a beta of 1.08. Flywire has a 52-week low of $8.62 and a 52-week high of $31.54. The business’s 50 day moving average is $19.21 and its two-hundred day moving average is $18.87.

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

Institutional Investors Weigh In On Flywire

Large investors have recently added to or reduced their stakes in the business. Creative Planning lifted its holdings in shares of Flywire by 36.5% in the third quarter. Creative Planning now owns 29,685 shares of the company’s stock valued at $487,000 after purchasing an additional 7,940 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Flywire during the 3rd quarter worth approximately $4,843,000. Harbor Capital Advisors Inc. grew its holdings in Flywire by 87.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock valued at $3,659,000 after buying an additional 104,336 shares during the last quarter. Olympiad Research LP acquired a new stake in Flywire during the 3rd quarter valued at $206,000. Finally, Curi RMB Capital LLC purchased a new position in Flywire during the third quarter worth $1,143,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.