Royal Bank of Canada Lowers Flywire (NASDAQ:FLYW) Price Target to $20.00

Flywire (NASDAQ:FLYW) had its target price trimmed by Royal Bank of Canada from $25.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently commented on FLYW. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.00 in a report on Wednesday. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $16.00 in a report on Wednesday. Finally, Citigroup cut their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.64.

Flywire Stock Performance

Shares of FLYW stock opened at $11.05 on Wednesday. The stock has a 50 day moving average price of $19.40 and a 200 day moving average price of $18.92. Flywire has a 52-week low of $8.62 and a 52-week high of $31.54. The firm has a market capitalization of $1.37 billion, a P/E ratio of 73.67, a P/E/G ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last released 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 the consensus estimate 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 forecast that Flywire will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Vanguard Group Inc. lifted its position in shares of Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after buying an additional 781,711 shares during the last quarter. FMR LLC grew its position in shares of Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after buying an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Flywire by 19.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after acquiring an additional 1,006,516 shares in the last quarter. Jennison Associates LLC lifted its position in Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. Finally, State Street Corp boosted its stake in Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after acquiring an additional 145,894 shares in the last quarter. Hedge funds and other institutional investors 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.