Flywire (NASDAQ:FLYW) Cut to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Flywire (NASDAQ:FLYW) from a buy rating to a hold rating in a research report released on Wednesday morning, MarketBeat reports. The firm currently has $16.00 target price on the stock, down from their previous target price of $26.00.

A number of other research firms have also weighed in on FLYW. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $26.00 to $15.00 in a report on Wednesday. The Goldman Sachs Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $15.00 in a report on Wednesday. Morgan Stanley upped their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $29.00 to $17.00 in a report on Wednesday. Finally, Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.23.

Flywire Trading Up 4.5 %

Shares of NASDAQ FLYW opened at $11.40 on Wednesday. The firm’s 50-day moving average price is $19.03 and its 200-day moving average price is $18.83. Flywire has a 1-year low of $8.62 and a 1-year high of $29.53. The firm has a market capitalization of $1.42 billion, a P/E ratio of 76.00, a P/E/G ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Equities research analysts forecast that Flywire will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently added to or reduced their stakes in FLYW. Raymond James Financial Inc. bought a new stake in Flywire in the 4th quarter worth about $35,579,000. Voss Capital LP purchased a new stake in shares of Flywire during the 4th quarter worth approximately $30,621,000. Teacher Retirement System of Texas purchased a new stake in shares of Flywire during the 4th quarter worth approximately $24,363,000. Jennison Associates LLC increased its stake in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after purchasing an additional 1,179,562 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in shares of Flywire by 62.1% during the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after purchasing an additional 1,049,888 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

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.