Flywire (NASDAQ:FLYW) had its price target cut to $25.00

Flywire (NASDAQ:FLYW – Free Report) Their target price was cut by Royal Bank of Canada from $34.00 to $25.00 in a report on Wednesday, Benzinga reports. Royal Bank of Canada currently has an Outperform rating on the stock.

Several other equities research analysts recently issued reports on FLYW. Wells Fargo & Company reduced their price target on Flywire from $25.00 to $20.00 and set an overweight rating for the company in a research note on Wednesday. Goldman Sachs Group dropped their price objective on Flywire from $32.00 to $25.00 and set a buy rating for the company in a research note on Thursday, May 9th. Wedbush reissued a neutral rating and set a $18.00 target price on shares of Flywire in a research note on Thursday, May 23rd. UBS Group cut their price target on Flywire from $34.00 to $26.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Finally, Citigroup cut their price target on Flywire from $36.00 to $33.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Flywire has a consensus rating of Moderate Buy and an average price target of $25.69.

Check out our latest report on Flywire

Flywire price performance

Flywire stock traded down $0.71 during trading on Wednesday, reaching $18.00. 921,440 shares of the company exchanged hands, compared to its average volume of 1,538,281. Flywire has a 52-week low of $15.19 and a 52-week high of $35.01. The company has a market cap of $2.24 billion, a P/E ratio of -163.64, a PEG ratio of 5.47 and a beta of 0.98. The stock’s 50-day simple moving average is $17.13, and its two-hundred-day simple moving average is $20.32.

Flywire (NASDAQ:FLYW – Get Your Free Report ) last posted its 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 business 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%. Flywire’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. As a group, equities analysts predict that Flywire will post 0.06 earnings per share for the current year.

Institutional inputs and outputs

A number of large investors have recently made changes to their positions in the business. Amalgamated Bank raised its stake in Flywire by 3.3% during the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after buying an additional 486 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Flywire by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after buying an additional 702 shares during the period. Assetmark Inc. raised its stake in Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after buying an additional 733 shares during the period. Arizona State Retirement System raised its stake in shares of Flywire by 3.1% during the second quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock worth $499,000 after buying an additional 908 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after buying an additional 954 shares during the 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.

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