Flywire (NASDAQ:FLYW) Lowered to “Neutral” Rating by UBS Group

UBS Group downgraded shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $15.00 price objective on the stock, down from their previous price objective of $25.00.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating 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 price objective for the company. in a research note on Wednesday. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $26.00 to $15.00 in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.64.

Flywire Trading Down 37.4 %

Shares of Flywire stock opened at $11.05 on Wednesday. Flywire has a 52 week low of $8.62 and a 52 week high of $31.54. The stock 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 company’s 50-day moving average price is $19.40 and its two-hundred day moving average price is $18.92.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, equities analysts predict that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently modified their holdings of FLYW. Raymond James Financial Inc. purchased a new position in Flywire in the fourth quarter valued at about $35,579,000. Voss Capital LP bought a new stake in shares of Flywire in the 4th quarter valued at approximately $30,621,000. Teacher Retirement System of Texas acquired a new position in Flywire in the fourth quarter worth approximately $24,363,000. Jennison Associates LLC raised its position in Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in Flywire by 62.1% in the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after acquiring an additional 1,049,888 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other 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.