Flywire (NASDAQ:FLYW) had its price target decreased to $26.00 at BTIG Research

Flywire (NASDAQ:FLYW – Free Report) Its price objective was dropped by BTIG Research from $27.00 to $26.00 in a research report on Wednesday, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other analysts have recently issued research reports on the company. Citigroup decreased their price objective on Flywire from $27.00 to $25.00 and set a buy rating for the company in a research report on Wednesday. Wedbush reissued a neutral rating and set a $18.00 price objective on shares of Flywire in a research report on Thursday, May 23rd. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. reduced 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. Finally, William Blair reiterated an outperform rating on shares of Flywire in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $25.69.

Check out the latest stock report on FLYW

Flywire stock down 3.8%

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. The firm 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. Flywire has a 1 year low of $15.19 and a 1 year high of $35.01. The stock has a 50-day simple moving average of $17.13 and a 200-day simple moving average of $20.32.

Flywire (NASDAQ:FLYW – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 2.63% and a negative return on equity of 1.56%. Flywire’s revenue for the quarter was up 22.2% year-over-year. During the same period in the previous year, the business posted EPS of ($0.15). As a group, sell-side analysts forecast that Flywire will post 0.06 earnings per share for the current year.

Hedge funds weigh in on Flywire

Institutional investors have recently made changes to their positions in the business. Nebula Research & Development LLC bought a new position in shares of Flywire in the fourth quarter valued at about $1,082,000. Bullseye Asset Management LLC increased its stake in shares of Flywire by 123.4% during the fourth quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock valued at $2,276,000 after acquiring an additional 54,306 shares during the period. Eagle Asset Management Inc. bought a new position in Flywire during the fourth quarter valued at about $9,505,000. Primecap Management Co. CA raised its stake in shares of Flywire by 671.2% during the fourth quarter. Primecap Management Co. CA now owns 147,300 shares of the company’s stock valued at $3,410,000 after acquiring an additional 128,200 shares during the period. Finally, Vanguard Group Inc. raised its stake in Flywire by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after acquiring an additional 243,523 shares during the period. 95.90% of shares are currently owned by institutional investors.

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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