Flywire (NASDAQ:FLYW) Downgraded by Deutsche Bank Aktiengesellschaft to “Hold”

Deutsche Bank Aktiengesellschaft cut shares of Flywire (NASDAQ:FLYW) from a buy rating to a hold rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $16.00 price objective on the stock, down from their previous price objective of $26.00.

Several other analysts also recently issued reports on the stock. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $29.00 to $17.00 in a report on Wednesday. Stephens downgraded Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.00 in a research report on Wednesday. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a report on Thursday, January 9th. Finally, Citigroup cut their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Flywire currently has an average rating of “Hold” and a consensus price target of $20.64.

Flywire Price Performance

Flywire stock opened at $11.05 on Wednesday. Flywire has a one year low of $8.62 and a one year high of $31.54. The company’s fifty day moving average price is $19.40 and its two-hundred day moving average price is $18.92. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 73.67, a PEG ratio of 1.41 and a beta of 1.08.

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

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently added to or reduced their stakes in FLYW. Ascent Group LLC lifted its position in shares of Flywire by 19.7% during the 4th quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock worth $695,000 after buying an additional 5,545 shares during the period. Public Employees Retirement System of Ohio raised its stake in Flywire by 72.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after acquiring an additional 60,210 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Flywire during the fourth quarter valued at $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Flywire by 16.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock valued at $14,668,000 after purchasing an additional 101,431 shares in the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Flywire in the 4th quarter worth about $235,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.