Flywire (NASDAQ:FLYW) Given New $25.00 Price Target at Citigroup

Flywire (NASDAQ:FLYW) had its price target trimmed by Citigroup from $27.00 to $25.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently issued reports on FLYW. Royal Bank of Canada cut their price objective on shares of Flywire from $34.00 to $25.00 and set an outperform rating on the stock in a report on Wednesday. BTIG Research dropped their price target on shares of Flywire from $34.00 to $27.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company dropped their price target on shares of Flywire from $25.00 to $20.00 and set an overweight rating on the stock in a research report on Wednesday. The Goldman Sachs Group dropped their price target on shares of Flywire from $32.00 to $25.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Finally, UBS Group dropped their price target on shares of Flywire from $34.00 to $26.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $26.50.

Flywire Stock Performance

Shares of Flywire stock traded up $0.52 on Wednesday, hitting $18.79. The stock had a trading volume of 1,009,763 shares, compared to its average volume of 1,538,849. The firm has a market capitalization of $2.33 billion, a P/E ratio of -166.09, a PEG ratio of 5.47 and a beta of 0.98. The stock has a 50 day moving average of $17.09 and a 200 day moving average of $20.35. Flywire has a twelve month low of $15.19 and a twelve month high of $35.80.

Flywire (NASDAQ:FLYW) last issued its earnings results 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). Flywire had a negative return on equity of 1.56% and a negative net margin of 2.63%. The firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Flywire’s revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts expect that Flywire will post 0.06 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

Large investors have recently modified their holdings of the business. Nebula Research & Development LLC bought a new stake in Flywire during the fourth quarter valued at approximately $1,082,000. Bullseye Asset Management LLC lifted its holdings in shares of Flywire by 123.4% in the 4th quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock worth $2,276,000 after acquiring an additional 54,306 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Flywire during the 4th quarter valued at $9,505,000. Primecap Management Co. CA raised its holdings in Flywire by 671.2% during the 4th quarter. Primecap Management Co. CA now owns 147,300 shares of the company’s stock valued at $3,410,000 after buying an additional 128,200 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Flywire by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after buying an additional 243,523 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.