Flywire (NASDAQ:FLYW) Downgraded by BTIG Research to Neutral

BTIG Research downgraded shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports.

Other analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Citigroup lowered their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.64.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $11.05 on Wednesday. Flywire has a 52-week low of $8.62 and a 52-week high of $31.54. The company has a market capitalization of $1.37 billion, a PE ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The company has a fifty day moving average of $19.40 and a 200-day moving average of $18.92.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (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 during the quarter, compared to analyst estimates of $118.85 million. On average, equities analysts forecast that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Trading of Flywire

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in Flywire during the fourth quarter worth $30,000. Arcadia Investment Management Corp MI acquired a new position in shares of Flywire during the fourth quarter valued at about $48,000. Advisors Asset Management Inc. boosted its position in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flywire during the 4th quarter worth about $77,000. Finally, KBC Group NV grew its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after buying an additional 1,911 shares during the period. Institutional investors own 95.90% of the company’s stock.

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.