Flywire (NASDAQ:FLYW) Stock Rating Lowered by Raymond James

Raymond James lowered shares of Flywire (NASDAQ:FLYW) from a strong-buy rating to an outperform rating in a research note released on Wednesday, Marketbeat Ratings reports. They currently have $17.00 price objective on the stock, down from their previous price objective of $29.00.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Citigroup lowered their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley boosted their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft boosted their target price on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.23.

Flywire Trading Up 4.5 %

Shares of FLYW stock opened at $11.40 on Wednesday. Flywire has a 1-year low of $8.62 and a 1-year high of $29.53. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 76.00, a P/E/G ratio of 1.41 and a beta of 1.08. The stock’s fifty day simple moving average is $19.03 and its 200-day simple moving average is $18.83.

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

Institutional Trading of Flywire

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after purchasing an additional 17,062 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after purchasing an additional 112,218 shares during the last quarter. Curi RMB Capital LLC acquired a new position in shares of Flywire during the 3rd quarter worth about $1,143,000. Versor Investments LP acquired a new position in shares of Flywire during the 4th quarter worth about $1,118,000. Finally, 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 worth $154,199,000 after purchasing an additional 326,120 shares during 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.