Flywire (NASDAQ:FLYW) Price Target Cut to $20.00 by Analysts at Royal Bank of Canada

Flywire (NASDAQ:FLYW) had its price objective reduced by Royal Bank of Canada from $25.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 83.32% from the company’s current price.

Several other research analysts have also recently issued reports on FLYW. Wells Fargo & Company dropped their price objective on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup dropped their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $16.00 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 stock. Based on data from MarketBeat, Flywire currently has a consensus rating of “Hold” and a consensus price target of $20.64.

Flywire Stock Down 1.3 %

Flywire stock opened at $10.91 on Wednesday. The company has a market cap of $1.36 billion, a PE ratio of 72.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Flywire has a twelve month low of $8.62 and a twelve month high of $31.54. The company’s 50-day moving average price is $19.21 and its 200-day moving average price is $18.87.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) 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 the consensus estimate of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, sell-side analysts expect that Flywire will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Flywire

A number of hedge funds have recently added to or reduced their stakes in FLYW. Vanguard Group Inc. grew its position in shares of Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after acquiring an additional 781,711 shares during the period. FMR LLC lifted its position in shares of 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 buying an additional 326,120 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Flywire by 19.3% in 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 during the period. Jennison Associates LLC grew its stake in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the period. Finally, State Street Corp increased its holdings in Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after acquiring an additional 145,894 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other 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.