Flywire (NASDAQ:FLYW) Shares Gap Down Following Analyst Downgrade

Flywire Co. (NASDAQ:FLYW) shares gapped down prior to trading on Tuesday after Seaport Res Ptn downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $19.01, but opened at $18.61. Flywire shares last traded at $19.17, with a volume of 74,358 shares.

A number of other equities analysts also recently commented on the stock. Morgan Stanley lifted their price objective 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. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. B. Riley reaffirmed a “buy” rating and set a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their price target on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.36.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently bought and sold shares of FLYW. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares during the period. Bullseye Asset Management LLC lifted its position in Flywire by 0.7% in 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. Truist Financial Corp boosted its stake in Flywire by 6.2% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after purchasing an additional 1,128 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Flywire by 7.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,295 shares of the company’s stock valued at $349,000 after purchasing an additional 1,411 shares during the period. Finally, Captrust Financial Advisors raised its stake in shares of Flywire by 12.3% in the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock worth $219,000 after buying an additional 1,463 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

The company has a fifty day moving average price of $20.94 and a two-hundred day moving average price of $18.59. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 134.67, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10.

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.