Flywire (NASDAQ:FLYW) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Flywire has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook for the stock.
• Recent price targets for Flywire's shares have decreased, with B. Riley setting a target of $15 and Wells Fargo reducing it to $13, reflecting analysts' cautious sentiment.
• The company's quarterly revenue increased by 17.0% year-over-year, and it reported earnings per share of $0.03, exceeding analysts' expectations.

Flywire (NASDAQ:FLYW - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

FLYW has been the topic of several other research reports. B. Riley reduced their price objective on shares of Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. Wells Fargo & Company reduced their price objective on shares of Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Wolfe Research restated a "peer perform" rating on shares of Flywire in a research report on Wednesday, April 23rd. Truist Financial boosted their price target on shares of Flywire from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Flywire in a research report on Thursday, July 17th. They issued a "hold" rating and a $12.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.77.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $10.37 on Friday. The firm's 50-day moving average price is $11.12 and its 200-day moving average price is $12.32. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.26 billion, a PE ratio of 259.25, a PEG ratio of 2.41 and a beta of 1.28. Flywire has a 52-week low of $8.20 and a 52-week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million for the quarter, compared to the consensus estimate of $124.18 million. Flywire had a net margin of 0.97% and a return on equity of 1.57%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. As a group, analysts anticipate that Flywire will post 0.14 EPS for the current year.

Insider Buying and Selling

In other Flywire news, Director Edwin J. Santos sold 5,466 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.04, for a total value of $54,878.64. Following the completion of the transaction, the director directly owned 21,990 shares in the company, valued at approximately $220,779.60. The trade was a 19.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in FLYW. Nisa Investment Advisors LLC raised its holdings in Flywire by 194.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company's stock worth $38,000 after purchasing an additional 2,167 shares in the last quarter. CWM LLC raised its holdings in Flywire by 850.9% in the second quarter. CWM LLC now owns 6,447 shares of the company's stock worth $75,000 after purchasing an additional 5,769 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire in the fourth quarter worth about $77,000. JT Stratford LLC bought a new position in Flywire in the first quarter worth about $109,000. Finally, Dakota Wealth Management raised its holdings in Flywire by 8.7% in the first quarter. Dakota Wealth Management now owns 13,334 shares of the company's stock worth $127,000 after purchasing an additional 1,066 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.

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