Royal Bank of Canada Cuts Flywire (NASDAQ:FLYW) Price Target to $20.00

Flywire (NASDAQ:FLYW) had its price objective reduced by Royal Bank of Canada from $25.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 93.54% from the stock’s current price.

A number of other equities analysts also recently issued reports on FLYW. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $29.00 to $17.00 in a report on Wednesday. Wells Fargo & Company cut their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $15.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a report on Wednesday. Finally, Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.64.

Flywire Price Performance

Shares of FLYW stock traded down $7.31 during mid-day trading on Wednesday, hitting $10.33. The stock had a trading volume of 15,383,618 shares, compared to its average volume of 1,828,176. Flywire has a 12-month low of $8.62 and a 12-month high of $31.54. The firm has a market capitalization of $1.29 billion, a P/E ratio of 68.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The firm’s 50-day moving average is $19.59 and its two-hundred day moving average is $18.98.

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 return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Analysts expect that Flywire will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. Global Retirement Partners LLC purchased a new stake in Flywire in the 4th quarter worth about $30,000. Arcadia Investment Management Corp MI bought a new position in shares of Flywire in the 4th quarter valued at about $48,000. Advisors Asset Management Inc. increased its holdings in shares of 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 last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire during the 4th quarter worth approximately $77,000. Finally, KBC Group NV lifted its holdings in shares of Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares in the last quarter. 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.