Flywire (NASDAQ:FLYW) Sets New 1-Year Low Following Weak Earnings

Shares of Flywire Co. (NASDAQ:FLYW - Get Free Report) hit a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $11.27 and last traded at $10.53, with a volume of 355523 shares changing hands. The stock had previously closed at $17.64.

The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $112.80 million during the quarter, compared to analysts' expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLYW. Seaport Res Ptn downgraded shares of Flywire from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and cut their target price for the stock from $25.00 to $15.00 in a research report on Wednesday. Morgan Stanley cut their target price on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday. BTIG Research downgraded shares of Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and cut their price target for the company from $26.00 to $16.00 in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in Flywire in the 4th quarter valued at $30,000. Arcadia Investment Management Corp MI acquired a new position in Flywire in the 4th quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flywire in the 4th quarter valued at $77,000. Advisors Asset Management Inc. grew its stake in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after buying an additional 539 shares during the last quarter. Finally, KBC Group NV grew its stake in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after buying an additional 1,911 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Performance

The business's 50 day moving average is $19.03 and its 200-day moving average is $18.83. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 76.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.08.

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.