Flywire (NASDAQ:FLYW) Given New $25.00 Price Target at Royal Bank of Canada

Flywire (NASDAQ:FLYW) had its price target lowered by investment analysts at Royal Bank of Canada from $34.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 34.77% from the company’s previous close.

A number of other research firms have also recently commented on FLYW. The Goldman Sachs Group decreased their target price on shares of Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. William Blair reaffirmed an “outperform” rating on shares of Flywire in a research note on Wednesday, May 8th. BTIG Research decreased their target price on Flywire from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wells Fargo & Company dropped their price target on Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 target price on shares of Flywire in a research report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Flywire Stock Up 4.4 %

Shares of NASDAQ FLYW traded up $0.78 during trading on Wednesday, reaching $18.55. 2,224,104 shares of the company traded hands, compared to its average volume of 1,530,854. The firm has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $20.37. The stock has a market capitalization of $2.30 billion, a PE ratio of -170.36, a P/E/G ratio of 5.47 and a beta of 0.98. Flywire has a 52-week low of $15.19 and a 52-week high of $35.80.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.15) EPS. As a group, research analysts predict that Flywire will post 0.06 EPS for the current year.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in shares of Flywire by 129.7% in the first quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock valued at $46,170,000 after purchasing an additional 1,050,924 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Flywire by 24.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after purchasing an additional 872,619 shares during the period. Capital International Investors increased its holdings in shares of Flywire by 21.8% in the fourth quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after purchasing an additional 485,654 shares during the period. Norges Bank acquired a new position in shares of Flywire in the fourth quarter valued at approximately $10,130,000. Finally, William Blair Investment Management LLC increased its holdings in shares of Flywire by 8.8% in the first quarter. William Blair Investment Management LLC now owns 5,212,192 shares of the company’s stock valued at $129,314,000 after purchasing an additional 419,549 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.