Flywire (NASDAQ:FLYW) Cut to Neutral at BTIG Research

BTIG Research lowered shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat Ratings reports.

Several other analysts have also commented on the stock. Morgan Stanley increased their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Raymond James increased their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Citigroup decreased their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Flywire has a consensus rating of “Hold” and an average price target of $19.23.

Flywire Price Performance

NASDAQ:FLYW opened at $11.40 on Wednesday. Flywire has a 1-year low of $8.62 and a 1-year high of $29.53. The company has a 50-day moving average of $19.03 and a 200 day moving average of $18.83. The firm has a market cap of $1.42 billion, a PE ratio of 76.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.

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

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock worth $664,000 after buying an additional 513 shares during the period. Advisors Asset Management Inc. increased its holdings in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the period. Summit Investment Advisors Inc. increased its holdings in Flywire by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock worth $261,000 after buying an additional 802 shares during the period. Bullseye Asset Management LLC increased its holdings in Flywire by 0.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after buying an additional 1,000 shares during the period. Finally, Bayesian Capital Management LP increased its holdings in Flywire by 6.9% in the 4th quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock worth $414,000 after buying an additional 1,300 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.