Flywire (NASDAQ:FLYW) Cut to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft lowered shares of Flywire (NASDAQ:FLYW) from a buy rating to a hold rating in a report published on Wednesday, Marketbeat.com reports. The firm currently has $16.00 price objective on the stock, down from their prior price objective of $26.00.

Other analysts have also issued research reports about the stock. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.00 in a report on Wednesday. Morgan Stanley lifted their target price on Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Flywire in a report on Thursday, January 9th. Ten equities 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.com, the company presently has an average rating of “Hold” and an average target price of $20.64.

Flywire Stock Performance

Flywire stock opened at $11.05 on Wednesday. The business’s fifty day moving average is $19.40 and its two-hundred day moving average is $18.92. The firm has a market cap of $1.37 billion, a P/E ratio of 73.67, a P/E/G ratio of 1.41 and a beta of 1.08. Flywire has a 52 week low of $8.62 and a 52 week high of $31.54.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after purchasing an additional 781,711 shares in the last quarter. FMR LLC grew its holdings in shares of Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after buying an additional 326,120 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after buying an additional 1,006,516 shares during the period. Jennison Associates LLC increased its position in shares of Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after buying an additional 1,179,562 shares in the last quarter. Finally, State Street Corp raised its stake in Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after buying an additional 145,894 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.