Flywire (NASDAQ:FLYW) Given New $20.00 Price Target at Royal Bank of Canada

Flywire (NASDAQ:FLYW) had its price objective cut by Royal Bank of Canada from $25.00 to $20.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group cut Flywire from a “buy” rating to a “neutral” rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Wednesday. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $15.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $16.00 in a report on Wednesday. Finally, Morgan Stanley lowered their price target on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.23.

Flywire Trading Up 4.5 %

Shares of FLYW stock opened at $11.40 on Wednesday. The stock has a market cap of $1.42 billion, a P/E ratio of 76.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The stock has a 50 day simple moving average of $19.03 and a 200 day simple moving average of $18.83. Flywire has a 1 year low of $8.62 and a 1 year high of $29.53.

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

Institutional Trading of Flywire

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in Flywire in the fourth quarter valued at $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire in the fourth quarter valued at $48,000. Advisors Asset Management Inc. increased its holdings in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire in the fourth quarter valued at $77,000. Finally, KBC Group NV increased its holdings in Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

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.