Flywire (NASDAQ:FLYW) Receives "Underweight" Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Flywire (NASDAQ:FLYW - Free Report) in a research report report published on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a $9.00 price objective on the stock, down from their previous price objective of $16.00.

Several other research firms have also weighed in on FLYW. Citigroup cut their target price on shares of Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft lowered Flywire from a "buy" rating to a "hold" rating and reduced their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Flywire currently has an average rating of "Hold" and a consensus price target of $17.00.

Flywire Price Performance

Shares of NASDAQ:FLYW traded up $0.05 during trading on Monday, reaching $8.88. The stock had a trading volume of 2,281,740 shares, compared to its average volume of 1,682,487. The stock has a market capitalization of $1.10 billion, a PE ratio of 59.20, a P/E/G ratio of 1.41 and a beta of 1.22. Flywire has a 52 week low of $8.20 and a 52 week high of $23.40. The business's 50-day moving average price is $11.58 and its 200 day moving average price is $16.86.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. Analysts forecast that Flywire will post 0.14 EPS for the current year.

Insider Activity

In related news, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now owns 30,770 shares of the company's stock, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently bought and sold shares of FLYW. Captrust Financial Advisors lifted its position in shares of Flywire by 12.3% during the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company's stock valued at $219,000 after acquiring an additional 1,463 shares during the period. State Street Corp lifted its position in shares of Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company's stock worth $48,038,000 after buying an additional 145,894 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Flywire during the 3rd quarter valued at approximately $353,000. Barclays PLC boosted its position in Flywire by 361.4% in the third quarter. Barclays PLC now owns 197,493 shares of the company's stock valued at $3,236,000 after buying an additional 154,694 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock worth $45,892,000 after buying an additional 17,062 shares in the last quarter. 95.90% of the stock is owned by 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.