Flywire (NASDAQ:FLYW) Shares Down 5.5% – What’s Next?

Flywire Co. (NASDAQ:FLYW)’s share price fell 5.5% during mid-day trading on Monday . The stock traded as low as $19.18 and last traded at $19.32. 119,383 shares were traded during trading, a decline of 75% from the average session volume of 471,959 shares. The stock had previously closed at $20.45.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley boosted their target price on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $20.00 to $18.00 in a research report on Friday, October 11th. The Goldman Sachs Group upped their price target on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Raymond James upped their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flywire has a consensus rating of “Moderate Buy” and a consensus target price of $25.29.

Flywire Stock Down 4.1 %

The company has a market cap of $2.44 billion, a PE ratio of 130.80, a PEG ratio of 3.10 and a beta of 1.08. The company has a 50-day moving average of $20.75 and a 200-day moving average of $18.46.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its holdings in Flywire by 125.1% during the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after acquiring an additional 6,519,598 shares during the period. Primecap Management Co. CA increased its position in Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after buying an additional 1,407,180 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake 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 purchasing an additional 1,006,516 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Flywire during the 2nd quarter valued at $12,642,000. Finally, Blair William & Co. IL boosted its stake in Flywire by 33.4% during the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock valued at $29,678,000 after purchasing an additional 453,183 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.