Flywire (NASDAQ:FLYW) Stock Price Down 2.8%

Flywire Co. (NASDAQ:FLYW)’s stock price fell 2.8% on Monday . The company traded as low as $17.04 and last traded at $17.15. 474,694 shares changed hands during trading, a decline of 69% from the average session volume of 1,519,249 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

FLYW has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. UBS Group reduced their price target on Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wedbush reissued a “neutral” rating and set a $18.00 price objective on shares of Flywire in a report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price target on Flywire from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Finally, BTIG Research cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Flywire has a consensus rating of “Moderate Buy” and an average target price of $25.69.

Flywire Stock Performance

The company’s 50-day moving average price is $17.19 and its 200 day moving average price is $20.18. The stock has a market capitalization of $2.13 billion, a PE ratio of -160.45, a PEG ratio of 5.47 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. Analysts expect that Flywire Co. will post 0.06 earnings per share for the current year.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in FLYW. Quarry LP bought a new stake in Flywire in the second quarter worth $26,000. Headlands Technologies LLC purchased a new position in Flywire in the first quarter worth about $46,000. Quest Partners LLC bought a new position in shares of Flywire in the fourth quarter worth approximately $52,000. Daiwa Securities Group Inc. purchased a new stake in shares of Flywire during the second quarter valued at approximately $64,000. Finally, Advisors Asset Management Inc. raised its holdings in Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after acquiring an additional 954 shares during 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.