Flywire (NASDAQ:FLYW) Hits New 52-Week Low on Disappointing Earnings

Shares of Flywire Co. (NASDAQ:FLYW) hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.27 and last traded at $10.53, with a volume of 355523 shares trading hands. The stock had previously closed at $17.64.

The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $29.00 to $17.00 in a report on Wednesday. Citigroup reduced their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and cut their price objective for the company from $26.00 to $16.00 in a research report on Wednesday. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group cut Flywire from a “buy” rating to a “neutral” rating and set a $15.00 target price for the company. in a report on Wednesday. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $21.43.

Institutional Investors Weigh In On Flywire

Several hedge funds have recently bought and sold shares of the stock. Creative Planning grew its stake in Flywire by 36.5% in the 3rd quarter. Creative Planning now owns 29,685 shares of the company’s stock valued at $487,000 after acquiring an additional 7,940 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Flywire in the 3rd quarter valued at $4,843,000. Harbor Capital Advisors Inc. increased its position in Flywire by 87.7% during the third quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock worth $3,659,000 after purchasing an additional 104,336 shares during the last quarter. Olympiad Research LP purchased a new stake in shares of Flywire during the 3rd quarter valued at approximately $206,000. Finally, Curi RMB Capital LLC purchased a new position in shares of Flywire during the 3rd quarter worth $1,143,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

The company has a market cap of $1.27 billion, a PE ratio of 67.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08. The company’s 50 day simple moving average is $19.59 and its two-hundred day simple moving average is $18.98.

Flywire Company Profile

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.