Flywire (NASDAQ:FLYW) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group lowered shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat Ratings reports. They currently have $15.00 price objective on the stock.

A number of other research analysts have also recently commented on FLYW. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday. Citigroup dropped their target price 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. Raymond James increased their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their price target 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. Ten 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 has an average rating of “Hold” and a consensus price target of $20.64.

Flywire Trading Down 37.4 %

Shares of NASDAQ FLYW opened at $11.05 on Wednesday. The firm has a fifty day simple moving average of $19.40 and a two-hundred day simple moving average of $18.92. Flywire has a 12 month low of $8.62 and a 12 month high of $31.54. The firm has a market capitalization of $1.37 billion, a PE ratio of 73.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.

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

Hedge Funds Weigh In On Flywire

Hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock worth $664,000 after purchasing an additional 513 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in Flywire by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock worth $261,000 after buying an additional 802 shares in the last quarter. Bullseye Asset Management LLC raised its position in Flywire by 0.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after buying an additional 1,000 shares during the last quarter. Finally, Bayesian Capital Management LP lifted its stake in Flywire by 6.9% during the 4th quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock valued at $414,000 after acquiring an additional 1,300 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.