Flywire (NASDAQ:FLYW) PT Lowered to $26.00 at BTIG Research

Flywire (NASDAQ:FLYW) had its target price cut by BTIG Research from $27.00 to $26.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on the company. The Goldman Sachs Group reduced their price objective on Flywire from $32.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, May 9th. William Blair restated an outperform rating on shares of Flywire in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Flywire from $25.00 to $22.00 and set a buy rating for the company in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of Flywire from $25.00 to $20.00 and set an overweight rating on the stock in a report on Wednesday. Finally, Citigroup decreased their price target on Flywire from $27.00 to $25.00 and set a buy rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $25.69.

Flywire Stock Performance

Shares of FLYW traded down $0.71 during mid-day trading on Wednesday, reaching $18.00. The company had a trading volume of 921,440 shares, compared to its average volume of 1,538,281. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -163.64, a P/E/G ratio of 5.47 and a beta of 0.98. The company’s 50 day simple moving average is $17.13 and its 200 day simple moving average is $20.33. Flywire has a 1-year low of $15.19 and a 1-year high of $35.01.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. Flywire’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. As a group, equities analysts forecast that Flywire will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Flywire in the first quarter worth approximately $46,000. Quest Partners LLC bought a new stake in shares of Flywire during the 4th quarter valued at about $52,000. Advisors Asset Management Inc. increased its position in shares of Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Flywire in the second quarter worth approximately $64,000. Finally, Assetmark Inc. boosted its holdings in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after buying 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.