Flywire (NASDAQ:FLYW) Stock Rating Lowered by Stephens

Flywire (NASDAQ:FLYW) was downgraded by research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $15.00 price target on the stock, down from their previous price target of $26.00. Stephens’ target price suggests a potential upside of 37.49% from the stock’s previous close.

A number of other brokerages have also recently issued reports on FLYW. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research note on Thursday, January 9th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research note 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 research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and dropped their target price 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.64.

Flywire Stock Performance

Shares of FLYW opened at $10.91 on Wednesday. The firm has a market cap of $1.36 billion, a P/E ratio of 72.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $31.54. The business has a 50-day moving average of $19.21 and a 200 day moving average of $18.87.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ascent Group LLC lifted its stake in Flywire by 19.7% in the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock valued at $695,000 after buying an additional 5,545 shares during the last quarter. Public Employees Retirement System of Ohio raised its position 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 purchasing an additional 60,210 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Flywire during the 4th quarter worth $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Flywire by 16.6% during the fourth 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 buying an additional 101,431 shares during the period. Finally, Vident Advisory LLC purchased a new stake in Flywire during the 4th quarter valued at approximately $235,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.