Flywire (NASDAQ:FLYW) Cut to Neutral at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat.com reports. They currently have $15.00 target price on the stock, down from their previous target price of $26.00.

Several other equities research analysts have also recently weighed in on FLYW. Citigroup decreased their target price on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Raymond James boosted their price objective on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.23.

Flywire Stock Up 4.5 %

FLYW stock opened at $11.40 on Wednesday. The business has a 50 day moving average price of $19.03 and a 200 day moving average price of $18.83. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 76.00, a PEG ratio of 1.41 and a beta of 1.08. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $29.53.

Flywire (NASDAQ:FLYW) last posted its earnings results 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). The business had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. As a group, sell-side analysts anticipate that Flywire will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Creative Planning grew its holdings in Flywire by 36.5% during the third quarter. Creative Planning now owns 29,685 shares of the company’s stock worth $487,000 after acquiring an additional 7,940 shares during the period. Assenagon Asset Management S.A. acquired a new position in Flywire during the third quarter worth $4,843,000. Harbor Capital Advisors Inc. grew its holdings in Flywire by 87.7% during the third quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock worth $3,659,000 after acquiring an additional 104,336 shares during the period. Olympiad Research LP acquired a new position in Flywire during the third quarter worth $206,000. Finally, Curi RMB Capital LLC acquired a new position in Flywire during the third quarter worth $1,143,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Flywire

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.