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

Flywire (NASDAQ:FLYW) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $16.00 target price on the stock, down from their previous target price of $26.00. Deutsche Bank Aktiengesellschaft’s price target suggests a potential downside of 9.30% from the stock’s previous close.

Several other research firms have also issued reports on FLYW. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $26.00 to $15.00 in a report on Wednesday. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup cut their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Morgan Stanley increased their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, BTIG Research downgraded 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.36.

Flywire Trading Up 1.8 %

Shares of NASDAQ:FLYW opened at $17.64 on Wednesday. The company has a market capitalization of $2.19 billion, a PE ratio of 117.60, a P/E/G 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 business’s fifty day simple moving average is $19.59 and its 200-day simple moving average is $18.98.

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

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of FLYW. Ascent Group LLC raised its position in Flywire by 19.7% during the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock valued at $695,000 after acquiring an additional 5,545 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Flywire by 72.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after purchasing an additional 60,210 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Flywire during the 4th quarter valued at approximately $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Flywire by 16.6% during 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 worth $14,668,000 after buying an additional 101,431 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in Flywire during the fourth quarter valued at $235,000. Institutional investors and hedge funds 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.