Flywire (NASDAQ:FLYW) Hits New 12-Month Low After Earnings Miss

Flywire Co. (NASDAQ:FLYW) hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $11.27 and last traded at $10.53, with a volume of 355523 shares trading hands. The stock had previously closed at $17.64.

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 firm had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million.

Analyst Upgrades and Downgrades

FLYW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered Flywire from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $16.00 in a research report on Wednesday. UBS Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $15.00 in a research note on Wednesday. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Flywire in a research report on Thursday, January 9th. Finally, The Goldman Sachs Group cut shares of Flywire from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a report on Wednesday. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.43.

Institutional Investors Weigh In On Flywire

Large investors have recently added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Flywire by 36.5% in the 3rd quarter. Creative Planning now owns 29,685 shares of the company’s stock worth $487,000 after purchasing an additional 7,940 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Flywire in the 3rd quarter worth approximately $4,843,000. Harbor Capital Advisors Inc. grew 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 worth $3,659,000 after acquiring an additional 104,336 shares during the last quarter. Olympiad Research LP bought a new position in Flywire in the 3rd quarter worth about $206,000. Finally, Curi RMB Capital LLC purchased a new stake in shares of Flywire during the third quarter valued at approximately $1,143,000. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 42.1 %

The firm has a market capitalization of $1.27 billion, a PE ratio of 67.23, a P/E/G ratio of 1.41 and a beta of 1.08. The firm has a 50 day simple moving average of $19.59 and a 200 day simple moving average of $18.98.

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.