Flywire (NASDAQ:FLYW) Lowered to “Neutral” Rating by The Goldman Sachs Group

The Goldman Sachs Group lowered shares of Flywire (NASDAQ:FLYW) from a buy rating to a neutral rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $15.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley increased their price objective on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $25.00 price objective on shares of Flywire in a report on Thursday, January 9th. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup dropped their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.64.

Flywire Stock Down 37.4 %

Shares of NASDAQ FLYW opened at $11.05 on Wednesday. The company has a market cap of $1.37 billion, a P/E ratio of 73.67, a P/E/G ratio of 1.41 and a beta of 1.08. Flywire has a 52 week low of $8.62 and a 52 week high of $31.54. The business has a 50-day simple moving average of $19.40 and a two-hundred day simple moving average of $18.92.

Flywire (NASDAQ:FLYW) last announced 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 firm had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Equities research analysts anticipate that Flywire will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Flywire by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after purchasing an additional 781,711 shares during the period. FMR LLC increased its stake in shares of Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after buying an additional 326,120 shares during the period. Westfield Capital Management Co. LP boosted its position in Flywire by 19.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after buying an additional 1,006,516 shares during the period. Jennison Associates LLC grew its holdings in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. Finally, State Street Corp increased its position in shares of Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after acquiring an additional 145,894 shares during the period. Institutional investors 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.