Flywire (NASDAQ:FLYW) Lowered to “Outperform” Rating by Raymond James

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

A number of other equities research analysts have also recently commented on the stock. Citigroup dropped their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. The Goldman Sachs Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price objective on shares of Flywire in a research report on Thursday, January 9th. Finally, Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.64.

Flywire Price Performance

NASDAQ FLYW opened at $11.05 on Wednesday. Flywire has a 1 year low of $8.62 and a 1 year high of $31.54. The company has a market capitalization of $1.37 billion, a PE ratio of 73.67, a P/E/G ratio of 1.41 and a beta of 1.08. The company has a fifty day moving average of $19.40 and a 200 day moving average of $18.92.

Flywire (NASDAQ:FLYW) last released 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). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Research analysts expect that Flywire will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in shares of Flywire by 1.6% in the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after buying an additional 513 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Flywire by 15.4% during the 3rd 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 in the last quarter. Summit Investment Advisors Inc. raised its holdings in Flywire by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock valued at $261,000 after acquiring an additional 802 shares during the last quarter. Bullseye Asset Management LLC lifted its stake in Flywire by 0.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its holdings in shares of Flywire by 6.9% during the 4th quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock worth $414,000 after purchasing an additional 1,300 shares during the last quarter. 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.