Flywire (NASDAQ:FLYW) Lowered to Neutral Rating by BTIG Research

BTIG Research downgraded shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat reports.

A number of other research firms have also recently issued reports on FLYW. Citigroup cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their price objective on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research report on Thursday, January 9th. Raymond James lifted their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.64.

Flywire Stock Down 37.4 %

Shares of NASDAQ FLYW opened at $11.05 on Wednesday. Flywire has a twelve month low of $8.62 and a twelve month high of $31.54. The company has a market cap of $1.37 billion, a PE ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The business’s 50 day moving average price is $19.40 and its two-hundred day moving average price is $18.92.

Flywire (NASDAQ:FLYW) last posted its 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 return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. As a group, research analysts anticipate that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently bought and sold shares of FLYW. Global Retirement Partners LLC acquired a new stake in shares of Flywire during the 4th quarter worth approximately $30,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Flywire in the 4th quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flywire in the 4th quarter valued at $77,000. Advisors Asset Management Inc. increased its stake in shares of Flywire by 15.4% in the 3rd 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 during the last quarter. Finally, KBC Group NV raised its holdings 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 buying an additional 1,911 shares in the last quarter. 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.