Flywire (NASDAQ:FLYW) Given New $16.00 Price Target at Wells Fargo & Company

Flywire (NASDAQ:FLYW) had its price target cut by Wells Fargo & Company from $20.00 to $16.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

FLYW has been the subject of a number of other research reports. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $16.00 in a research note on Wednesday. Citigroup cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Flywire currently has an average rating of “Hold” and an average price target of $20.64.

Flywire Trading Down 37.4 %

FLYW opened at $11.05 on Wednesday. The company has a 50 day moving average of $19.40 and a 200 day moving average of $18.92. Flywire has a 12 month low of $8.62 and a 12 month high of $31.54. The company has a market cap 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 posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. Research analysts forecast that Flywire will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire in the fourth quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire during the fourth quarter valued at approximately $77,000. Advisors Asset Management Inc. raised its stake 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 worth $66,000 after acquiring an additional 539 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares during the last quarter. Hedge funds and other 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.