Wells Fargo & Company Lowers Flywire (NASDAQ:FLYW) Price Target to $16.00

Flywire (NASDAQ:FLYW) had its price target dropped by equities researchers at Wells Fargo & Company from $20.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 58.65% from the stock’s current price.

Other equities analysts have also issued reports about the company. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. UBS Group lowered Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $15.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $16.00 in a research report on Wednesday. The Goldman Sachs Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Wednesday. Finally, BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Flywire presently has a consensus rating of “Hold” and an average price target of $21.43.

Flywire Stock Down 42.8 %

Flywire stock opened at $10.09 on Wednesday. The firm has a 50-day moving average price of $19.59 and a two-hundred day moving average price of $18.98. Flywire has a 52-week low of $8.62 and a 52-week high of $31.54. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 67.23, a PEG ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data 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). The company 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%. Research analysts expect that Flywire will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in shares of Flywire during the 4th quarter valued at $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire during the fourth quarter valued at $48,000. Advisors Asset Management Inc. grew its stake in 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 purchasing an additional 539 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flywire in the 4th quarter worth about $77,000. Finally, KBC Group NV raised its stake in shares of Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after purchasing an additional 1,911 shares in the last quarter. Hedge funds and other 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.