Wells Fargo & Company Cuts Flywire (NASDAQ:FLYW) Price Target to $16.00

Flywire (NASDAQ:FLYW) had its price target lowered by Wells Fargo & Company from $20.00 to $16.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

FLYW has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $16.00 in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Flywire in a report on Thursday, January 9th. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $26.00 to $15.00 in a research report on Wednesday. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $29.00 to $17.00 in a report on Wednesday. Finally, Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of “Hold” and an average target price of $20.64.

Flywire Price Performance

Shares of Flywire stock opened at $11.05 on Wednesday. Flywire has a one year low of $8.62 and a one year high of $31.54. The business’s 50 day simple moving average is $19.40 and its two-hundred day simple moving average is $18.92. The stock has a market capitalization of $1.37 billion, a P/E ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLYW. Global Retirement Partners LLC purchased a new stake in Flywire in the fourth quarter worth about $30,000. Arcadia Investment Management Corp MI purchased a new position in shares of Flywire during the fourth quarter valued at approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Flywire in the 4th quarter worth approximately $77,000. Advisors Asset Management Inc. grew its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the last quarter. Finally, KBC Group NV increased its position in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after buying an additional 1,911 shares in the last quarter. 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.