Flywire (NASDAQ:FLYW) Price Target Cut to $20.00 by Analysts at Royal Bank of Canada

Flywire (NASDAQ:FLYW) had its price objective trimmed by Royal Bank of Canada from $25.00 to $20.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Stephens downgraded Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $26.00 to $15.00 in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Raymond James cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $29.00 to $17.00 in a research note on Wednesday. Finally, The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.64.

Flywire Stock Performance

FLYW opened at $11.05 on Wednesday. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The firm’s fifty day moving average is $19.40 and its 200 day moving average is $18.92. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $31.54.

Flywire (NASDAQ:FLYW) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, equities research analysts predict that Flywire will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in Flywire during the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI bought a new position in shares of Flywire during the 4th quarter valued at approximately $48,000. Advisors Asset Management Inc. raised its holdings in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire in the fourth quarter worth $77,000. Finally, KBC Group NV boosted its stake in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares during the period. 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.