Flywire (NASDAQ:FLYW) Rating Lowered to Outperform at Raymond James

Flywire (NASDAQ:FLYW) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They currently have a $17.00 price objective on the stock, down from their previous price objective of $29.00. Raymond James’ price objective would suggest a potential downside of 3.63% from the stock’s current price.

Several other analysts have also issued reports on FLYW. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a report on Wednesday. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Morgan Stanley lifted their price target on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.36.

Flywire Price Performance

NASDAQ FLYW opened at $17.64 on Wednesday. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 117.60, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The company’s fifty day moving average price is $19.59 and its two-hundred day moving average price is $18.98.

Flywire (NASDAQ:FLYW) last posted 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 net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. As a group, analysts anticipate that Flywire will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently bought and sold shares of FLYW. Raymond James Financial Inc. bought a new stake in shares of Flywire during the fourth quarter valued at about $35,579,000. Voss Capital LP purchased a new stake in Flywire in the 4th quarter worth approximately $30,621,000. Teacher Retirement System of Texas purchased a new position in shares of Flywire during the fourth quarter valued at about $24,363,000. Jennison Associates LLC increased its stake in shares of Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in Flywire by 62.1% in the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after purchasing an additional 1,049,888 shares in the last quarter. 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.