Flywire (NASDAQ:FLYW) Cut to “Equal Weight” at Stephens

Flywire (NASDAQ:FLYW) was downgraded by equities researchers at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They presently have a $15.00 target price on the stock, down from their prior target price of $26.00. Stephens’ target price would indicate a potential downside of 14.97% from the stock’s previous close.

Several other brokerages also recently commented on FLYW. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research report on Thursday, January 9th. Morgan Stanley boosted their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Citigroup reduced their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $29.00 to $17.00 in a research report on Wednesday. Finally, BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.36.

Flywire Price Performance

Shares of Flywire stock opened at $17.64 on Wednesday. Flywire has a 1 year low of $15.19 and a 1 year high of $31.54. The company has a 50-day moving average of $19.59 and a 200 day moving average of $18.98. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 117.60, a PEG ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. On average, equities analysts anticipate that Flywire will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently made changes to their positions in FLYW. Ascent Group LLC grew its stake 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 purchasing an additional 5,545 shares during the period. Public Employees Retirement System of Ohio raised its stake in Flywire by 72.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock valued at $2,944,000 after purchasing an additional 60,210 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Flywire during the fourth quarter worth approximately $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Flywire by 16.6% in the fourth 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 during the period. Finally, Vident Advisory LLC acquired a new position in shares of Flywire during the 4th quarter valued at about $235,000. 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.