Flywire (NASDAQ:FLYW) Stock Rating Lowered by UBS Group

UBS Group downgraded shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has $15.00 price target on the stock, down from their previous price target of $25.00.

Other equities research analysts have also recently issued reports about the stock. BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday. Morgan Stanley raised their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $29.00 to $17.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $16.00 in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Flywire presently has an average rating of “Hold” and an average target price of $20.64.

Flywire Stock Performance

FLYW opened at $11.05 on Wednesday. The firm has a market cap of $1.37 billion, a P/E ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The business has a 50 day moving average price of $19.40 and a 200 day moving average price of $18.92. Flywire has a twelve month low of $8.62 and a twelve month high of $31.54.

Flywire (NASDAQ:FLYW) last issued 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). The firm had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. As a group, analysts anticipate that Flywire will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Flywire in the 4th quarter valued at about $35,579,000. Voss Capital LP acquired a new position in Flywire in the fourth quarter valued at approximately $30,621,000. Teacher Retirement System of Texas bought a new position in Flywire in the fourth quarter valued at approximately $24,363,000. Jennison Associates LLC grew its holdings in 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 acquiring an additional 1,179,562 shares during the period. Finally, Wasatch Advisors LP raised its position 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 valued at $56,533,000 after acquiring an additional 1,049,888 shares during the last quarter. 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.