Flywire (NASDAQ:FLYW) Cut to “Neutral” at UBS Group

UBS Group lowered shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has $15.00 price target on the stock, down from their prior price target of $25.00.

Several other equities analysts have also recently commented on FLYW. BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday. Citigroup reduced their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. The Goldman Sachs Group cut shares of Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $15.00 in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Finally, Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $26.00 to $15.00 in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Flywire has a consensus rating of “Hold” and a consensus target price of $19.23.

Flywire Price Performance

NASDAQ:FLYW opened at $11.40 on Wednesday. The firm has a 50-day moving average of $19.03 and a two-hundred day moving average of $18.83. The stock has a market cap of $1.42 billion, a P/E ratio of 76.00, a PEG 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 issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. As a group, equities analysts expect that Flywire will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Flywire

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after acquiring an additional 781,711 shares during the period. FMR LLC boosted its stake in Flywire by 3.6% in 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 period. Westfield Capital Management Co. LP boosted its stake in Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after purchasing an additional 1,006,516 shares during the period. Jennison Associates LLC boosted its stake in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after purchasing an additional 1,179,562 shares during the period. Finally, State Street Corp boosted its stake in Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after purchasing an additional 145,894 shares during the period. Institutional investors and hedge funds 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.