Flywire (NASDAQ:FLYW) Stock Price Down 2.8%

Shares of Flywire Co. (NASDAQ:FLYW) were down 2.8% during trading on Monday . The stock traded as low as $17.04 and last traded at $17.15. Approximately 474,694 shares traded hands during trading, a decline of 69% from the average daily volume of 1,519,249 shares. The stock had previously closed at $17.65.

Wall Street Analyst Weigh In

Several research analysts have commented on FLYW shares. The Goldman Sachs Group decreased their price target on shares of Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Wells Fargo & Company cut their target price on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. BTIG Research cut 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 Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flywire currently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Flywire Stock Up 0.9 %

The firm has a market cap of $2.11 billion, a P/E ratio of -154.09, a PEG ratio of 5.47 and a beta of 0.98. The firm’s fifty day moving average is $17.20 and its two-hundred day moving average is $20.09.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same quarter last year, the firm posted ($0.15) EPS. The business’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that Flywire Co. will post 0.06 EPS for the current year.

Institutional Trading of Flywire

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank raised its position in shares of Flywire by 3.3% in the 4th quarter. Amalgamated Bank now owns 15,267 shares of the company’s stock worth $353,000 after purchasing an additional 486 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Flywire by 3.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after purchasing an additional 702 shares during the last quarter. Assetmark Inc. raised its position in shares of Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after purchasing an additional 733 shares during the last quarter. Arizona State Retirement System raised its position in shares of Flywire by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock worth $499,000 after purchasing an additional 908 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after purchasing an additional 954 shares during the last quarter. 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.