Flywire (NASDAQ:FLYW) Lowered to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Flywire (NASDAQ:FLYW) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $16.00 target price on the stock, down from their prior target price of $26.00. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 46.65% from the company’s previous close.

FLYW has been the topic of several other reports. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. Citigroup lowered their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group cut shares of Flywire from a “buy” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research note on Wednesday. Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday. Finally, Morgan Stanley increased their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Ten research 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 an average price target of $20.64.

Flywire Stock Down 1.3 %

Shares of NASDAQ FLYW opened at $10.91 on Wednesday. The stock’s fifty day simple moving average is $19.21 and its 200 day simple moving average is $18.87. The stock has a market capitalization 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.

Flywire (NASDAQ:FLYW) last posted 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 company 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, analysts anticipate that Flywire will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its stake in Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock worth $664,000 after acquiring an additional 513 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Flywire by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock worth $261,000 after buying an additional 802 shares during the last quarter. Bullseye Asset Management LLC increased its position in Flywire by 0.7% during the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,000 shares during the period. Finally, Bayesian Capital Management LP raised its position in shares of Flywire by 6.9% in the 4th quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock worth $414,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

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.