Flywire (NASDAQ:FLYW) Price Target Cut to $20.00 by Analysts at Wells Fargo & Company

Flywire (NASDAQ:FLYW) had its price objective dropped by investment analysts at Wells Fargo & Company from $25.00 to $20.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.87% from the company’s current price.

Several other research analysts also recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Flywire in a report on Wednesday, May 8th. Royal Bank of Canada dropped their target price on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. UBS Group decreased their price target on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Wedbush restated a “neutral” rating and issued a $18.00 price target on shares of Flywire in a research report on Thursday, May 23rd. Finally, BTIG Research decreased their price target on shares of Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average price target of $29.14.

Flywire Trading Up 3.4 %

FLYW traded up $0.60 during trading on Wednesday, hitting $18.37. The stock had a trading volume of 1,369,597 shares, compared to its average volume of 1,524,562. The firm has a market cap of $2.28 billion, a PE ratio of -164.64, a P/E/G ratio of 5.47 and a beta of 0.98. Flywire has a 12 month low of $15.19 and a 12 month high of $35.80. The company has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $20.37.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.15) EPS. As a group, sell-side analysts anticipate that Flywire will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently modified their holdings of the stock. Arizona State Retirement System raised its stake in shares of Flywire by 3.1% in the second quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock worth $499,000 after acquiring an additional 908 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Flywire by 14.7% in the second quarter. Victory Capital Management Inc. now owns 1,177,579 shares of the company’s stock worth $19,301,000 after acquiring an additional 151,126 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Flywire by 15.6% in the second quarter. Rhumbline Advisers now owns 169,434 shares of the company’s stock worth $2,777,000 after acquiring an additional 22,891 shares during the last quarter. Peregrine Capital Management LLC raised its stake in shares of Flywire by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 405,835 shares of the company’s stock worth $6,652,000 after acquiring an additional 5,271 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Flywire by 7.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,506 shares of the company’s stock worth $418,000 after acquiring an additional 1,718 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

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.