Flywire (NASDAQ:FLYW) Cut to “Outperform” at Raymond James

Raymond James lowered shares of Flywire (NASDAQ:FLYW) from a strong-buy rating to an outperform rating in a research note published on Wednesday morning, MarketBeat.com reports. They currently have $17.00 price objective on the stock, down from their previous price objective of $29.00.

A number of other research analysts have also issued reports on FLYW. Morgan Stanley boosted their price target on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $15.00 in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Citigroup reduced their price target on 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 boosted their price target on Flywire from $23.00 to $26.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently 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 12-month low of $8.62 and a 12-month 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. The business has a 50 day simple moving average of $19.03 and a 200 day simple moving average of $18.83.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Research analysts anticipate that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Flywire by 1.6% during the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock worth $664,000 after purchasing an additional 513 shares during the period. Advisors Asset Management Inc. raised its position in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Flywire by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock worth $261,000 after purchasing an additional 802 shares during the period. Bullseye Asset Management LLC raised its position in shares of Flywire by 0.7% during the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after purchasing an additional 1,000 shares during the period. Finally, Bayesian Capital Management LP raised its position in shares of Flywire by 6.9% during the fourth quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock worth $414,000 after purchasing an additional 1,300 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

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.