Flywire (NASDAQ:FLYW) had its price target dropped to $22.00 at Deutsche Bank Aktiengesellschaft

Flywire (NASDAQ:FLYW – Free Report) Deutsche Bank Aktiengesellschaft dropped their target price on the stock from $25.00 to $22.00 in a report on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

FLYW has been the subject of several other research reports. Royal Bank of Canada cut their price target on Flywire from $34.00 to $25.00 and set an outperform rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on Flywire from $20.00 to $18.00 and set a neutral rating for the company in a research report on Wednesday. William Blair reiterated an outperform rating on shares of Flywire in a research report on Wednesday, May 8th. Wedbush reiterated a neutral rating and set a $18.00 price objective on shares of Flywire in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company decreased their price objective on Flywire from $25.00 to $20.00 and set an overweight rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Flywire currently has a consensus rating of Moderate Buy and an average price target of $25.69, based on data from MarketBeat.

Read our latest research report on Flywire

Stock Flywire performance

Shares of Flywire traded down $0.71 during midday trading on Wednesday, reaching $18.00. The company’s stock had a trading volume of 921,440 shares, compared to its average volume of 1,538,281. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $35.01. The stock’s 50-day simple moving average is $17.13, and its 200-day simple moving average is $20.32. The firm has a market cap of $2.24 billion, a PE ratio of -163.64, a P/E/G ratio of 5.47 and a beta of 0.98.

Flywire (NASDAQ:FLYW – Get Your Free Report ) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) EPS. equities analysts forecast that Flywire will post 0.06 earnings per share for the current year.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Arizona State Retirement System increased its holdings in Flywire by 20.5% in the 4th quarter. Arizona State Retirement System now owns 29,888 shares of the company’s stock valued at $692,000 after buying an additional 5,086 shares during the period. Peregrine Capital Management LLC grew its holdings in shares of Flywire by 18.5% during the 4th quarter. Peregrine Capital Management LLC now owns 400,464 shares of the company’s stock worth $9,271,000 after buying an additional 62,639 shares during that period. Vontobel Holding Ltd. acquired a new stake in shares of Flywire in the 4th quarter valued at approximately $690,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Flywire by 39.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,788 shares of the company’s stock worth $551,000 after buying an additional 6,669 shares during the period respective. Finally, Avior Wealth Management LLC grew its holdings in shares of Flywire by 21.6% during the 4th quarter. Avior Wealth Management LLC now owns 16,996 shares of the company’s stock worth $393,000 after buying an additional 3,015 shares during that period. Hedge funds and other institutional investors own 95.90% of the company’s shares.

About Flywire

(Get a free report)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States and internationally. Its payment platform and network and vertical-specific software help customers get paid and help their customers pay. The company’s platform facilitates payment flows in multiple currencies, payment types and payment options, as well as providing direct connections to alternative payment methods such as Alipay, Boleto, PayPal/Venmo and Trustly.

Further reading

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