Royal Bank of Canada Cuts Flywire (NASDAQ:FLYW) Price Target to $20.00

Flywire (NASDAQ:FLYW) had its target price reduced by Royal Bank of Canada from $25.00 to $20.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on FLYW. UBS Group downgraded Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $15.00 in a research report on Wednesday. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $29.00 to $17.00 in a research report on Wednesday. Wells Fargo & Company lowered their price target on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $16.00 in a research report on Wednesday. Finally, The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $15.00 in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.23.

Flywire Price Performance

FLYW opened at $11.40 on Wednesday. The business’s 50-day moving average price is $19.03 and its two-hundred day moving average price is $18.83. 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. Flywire has a 1 year low of $8.62 and a 1 year high of $29.53.

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

Institutional Investors Weigh In On Flywire

Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of Flywire during the fourth quarter worth approximately $30,000. Arcadia Investment Management Corp MI bought a new stake in shares of Flywire during the fourth quarter worth approximately $48,000. Advisors Asset Management Inc. boosted its stake 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 buying an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flywire in the fourth quarter valued at approximately $77,000. Finally, KBC Group NV boosted its stake in shares of Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after buying an additional 1,911 shares during the period. Institutional investors 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.