Morgan Stanley Lowers Flywire (NASDAQ:FLYW) Price Target to $15.00

Flywire (NASDAQ:FLYW) had its price target reduced by research analysts at Morgan Stanley from $21.00 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 41.40% from the company’s current price.

Other research analysts have also recently issued reports about the company. Citigroup cut their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $15.00 in a report on Wednesday. Wells Fargo & Company cut their price objective on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $26.00 to $15.00 in a report on Wednesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.00.

Flywire Stock Down 39.9 %

FLYW traded down $7.03 during trading on Wednesday, reaching $10.61. 12,012,215 shares of the company’s stock were exchanged, compared to its average volume of 1,700,653. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $31.54. The business has a 50 day moving average price of $19.59 and a 200 day moving average price of $18.98. The company has a market capitalization of $1.32 billion, a P/E ratio of 70.45, a PEG ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $118.85 million. As a group, research analysts forecast that Flywire will post 0.14 EPS for the current year.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ascent Group LLC increased its position in Flywire by 19.7% in the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock worth $695,000 after purchasing an additional 5,545 shares during the period. Public Employees Retirement System of Ohio increased its position in Flywire by 72.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after purchasing an additional 60,210 shares during the period. Neo Ivy Capital Management acquired a new stake in Flywire in the fourth quarter worth about $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Flywire by 16.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock worth $14,668,000 after purchasing an additional 101,431 shares during the period. Finally, Vident Advisory LLC acquired a new stake in Flywire in the fourth quarter worth about $235,000. 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.