Flywire (NASDAQ:FLYW) Lowered to “Neutral” Rating by The Goldman Sachs Group

Flywire (NASDAQ:FLYW) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat.com reports. They currently have a $15.00 target price on the stock, down from their previous target price of $26.00. The Goldman Sachs Group’s price objective suggests a potential upside of 37.49% from the company’s previous close.

Several other analysts also recently weighed in on FLYW. Morgan Stanley lifted their price objective 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. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday. Citigroup decreased their target price 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. Raymond James raised their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Finally, Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.64.

Flywire Trading Down 1.3 %

NASDAQ FLYW opened at $10.91 on Wednesday. The company’s fifty day simple moving average is $19.21 and its 200-day simple moving average is $18.87. The stock has a market cap of $1.36 billion, a P/E 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.

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). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. On average, research analysts expect that Flywire will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Ascent Group LLC grew its holdings in shares of Flywire by 19.7% during the 4th quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock worth $695,000 after purchasing an additional 5,545 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Flywire by 72.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock valued at $2,944,000 after buying an additional 60,210 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Flywire in the 4th quarter valued at $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Flywire by 16.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock worth $14,668,000 after acquiring an additional 101,431 shares during the period. Finally, Vident Advisory LLC bought a new stake in Flywire in the fourth quarter valued at about $235,000. 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.