Flywire (NASDAQ:FLYW) Price Target Cut to $18.00

Flywire (NASDAQ:FLYW) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $20.00 to $18.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 2.76% from the stock’s current price.

Several other research firms also recently commented on FLYW. BTIG Research decreased their price target on shares of Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Wedbush reiterated a “neutral” rating and issued a $18.00 price target on shares of Flywire in a research report on Thursday, May 23rd. William Blair reissued an “outperform” rating on shares of Flywire in a research report on Wednesday, May 8th. Royal Bank of Canada dropped their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group decreased their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Flywire Stock Performance

Shares of FLYW stock traded down $0.20 during midday trading on Wednesday, hitting $18.51. 14,680 shares of the company were exchanged, compared to its average volume of 1,532,354. Flywire has a 52 week low of $15.19 and a 52 week high of $35.01. The firm has a market capitalization of $2.30 billion, a P/E ratio of -170.09, a PEG ratio of 5.47 and a beta of 0.98. The firm’s 50 day moving average price is $17.12 and its two-hundred day moving average price is $20.34.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts expect that Flywire will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of Flywire during the 1st quarter valued at $46,000. Quest Partners LLC purchased a new position in Flywire in the fourth quarter valued at about $52,000. Daiwa Securities Group Inc. bought a new position in shares of Flywire during the 2nd quarter valued at approximately $64,000. Advisors Asset Management Inc. raised its holdings in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after purchasing an additional 954 shares during the period. Finally, Assetmark Inc. lifted its stake in Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.