Flywire (NASDAQ:FLYW) Cut to “Equal Weight” at Stephens

Stephens cut shares of Flywire (NASDAQ:FLYW) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat reports. Stephens currently has $15.00 target price on the stock, down from their prior target price of $26.00.

A number of other research firms also recently weighed in on FLYW. Citigroup cut their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Morgan Stanley increased their price target on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $29.00 to $17.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.23.

Flywire Stock Performance

Shares of FLYW opened at $11.40 on Wednesday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 76.00, a PEG ratio of 1.41 and a beta of 1.08. The business’s fifty day moving average price is $19.03 and its two-hundred day moving average price is $18.83. Flywire has a 52 week low of $8.62 and a 52 week high of $29.53.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $112.80 million during 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%. As a group, research analysts forecast that Flywire will post 0.14 EPS for the current year.

Institutional Trading of Flywire

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Flywire in the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Flywire in the 4th quarter valued at about $48,000. Advisors Asset Management Inc. raised its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flywire in the 4th quarter valued at about $77,000. Finally, KBC Group NV raised its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 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.