Flywire (NASDAQ:FLYW) Downgraded to Neutral Rating by BTIG Research

Flywire (NASDAQ:FLYW) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Wednesday,Briefing.com Automated Import reports.

Several other equities research analysts also recently weighed in on the stock. Raymond James lifted their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Flywire in a report on Thursday, January 9th. Citigroup lowered their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley lifted their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.36.

Flywire Stock Up 1.8 %

FLYW opened at $17.64 on Wednesday. The stock has a market cap of $2.19 billion, a PE ratio of 117.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Flywire has a twelve month low of $15.19 and a twelve month high of $31.54. The company has a fifty day moving average of $19.59 and a 200-day moving average of $18.98.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Sell-side analysts anticipate that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Trading of Flywire

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after buying an additional 781,711 shares during the last quarter. FMR LLC increased its stake in shares of Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after purchasing an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after purchasing an additional 1,006,516 shares during the period. Jennison Associates LLC lifted its stake in Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the last quarter. Finally, State Street Corp increased its position in Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after buying an additional 145,894 shares during the last quarter. 95.90% of the stock is currently 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.