Flywire (NASDAQ:FLYW) Stock Price Down 2.8%

Flywire Co. (NASDAQ:FLYW)’s stock price fell 2.8% during trading on Monday . The stock traded as low as $17.04 and last traded at $17.15. 474,694 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,519,249 shares. The stock had previously closed at $17.65.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLYW. Citigroup dropped their target price on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. UBS Group lowered their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company lowered their price objective on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Flywire Stock Performance

The stock has a market capitalization of $2.11 billion, a P/E ratio of -154.09, a price-to-earnings-growth ratio of 5.47 and a beta of 0.98. The stock’s fifty day simple moving average is $17.20 and its two-hundred day simple moving average is $20.09.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same period in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. As a group, analysts expect that Flywire Co. will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently modified their holdings of FLYW. William Blair Investment Management LLC boosted its stake in shares of Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after acquiring an additional 1,407,180 shares during the period. Jennison Associates LLC lifted its position in shares of Flywire by 129.7% during the 1st quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock valued at $46,170,000 after acquiring an additional 1,050,924 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Flywire by 24.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after acquiring an additional 872,619 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Flywire during the 2nd quarter valued at $12,642,000. 95.90% of the stock is owned by institutional investors.

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.