Flywire (NASDAQ:FLYW) Lowered to Outperform Rating by Raymond James

Flywire (NASDAQ:FLYW) was downgraded by Raymond James from a “strong-buy” rating to an “outperform” rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $17.00 price target on the stock, down from their previous price target of $29.00. Raymond James’ target price would suggest a potential downside of 3.63% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.36.

Flywire Price Performance

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

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FLYW. Creative Planning raised its holdings in Flywire by 36.5% in the third quarter. Creative Planning now owns 29,685 shares of the company’s stock valued at $487,000 after acquiring an additional 7,940 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Flywire in the 3rd quarter valued at approximately $4,843,000. Harbor Capital Advisors Inc. lifted its stake in shares of Flywire by 87.7% in the third quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock valued at $3,659,000 after purchasing an additional 104,336 shares during the period. Olympiad Research LP acquired a new position in Flywire during the third quarter worth $206,000. Finally, Curi RMB Capital LLC acquired a new stake in Flywire in the 3rd quarter valued at about $1,143,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

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.