Morgan Stanley Lowers Flywire (NASDAQ:FLYW) Price Target to $15.00

Flywire (NASDAQ:FLYW) had its target price decreased by investment analysts at Morgan Stanley from $21.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 41.40% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on FLYW. Citigroup dropped 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. Deutsche Bank Aktiengesellschaft lowered Flywire from a “buy” rating to a “hold” rating and decreased their price objective for the company from $26.00 to $16.00 in a report on Wednesday. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $26.00 to $15.00 in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 target price on shares of Flywire in a report on Thursday, January 9th. Finally, Wells Fargo & Company reduced their price objective on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.00.

Flywire Price Performance

Shares of Flywire stock traded down $7.03 during trading on Wednesday, hitting $10.61. 12,012,215 shares of the company were exchanged, compared to its average volume of 1,700,653. The firm has a market capitalization of $1.32 billion, a P/E ratio of 70.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. Flywire has a 1-year low of $8.62 and a 1-year high of $31.54. The firm’s fifty day moving average price is $19.59 and its 200 day moving average price is $18.98.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data 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 business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, equities research analysts anticipate that Flywire will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

Several large investors have recently bought and sold shares of the company. Ascent Group LLC raised its position in Flywire by 19.7% in the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock valued at $695,000 after purchasing an additional 5,545 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Flywire by 72.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after acquiring an additional 60,210 shares during the period. Neo Ivy Capital Management acquired a new position in Flywire in the fourth quarter valued at approximately $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 buying an additional 101,431 shares during the period. Finally, Vident Advisory LLC acquired a new position in Flywire in the fourth quarter valued at approximately $235,000. 95.90% of the stock is currently owned by institutional investors.

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.