JPMorgan downgraded Flywire to Neutral from Overweight with a $29 price target in conjunction with the firm’s 2024 Outlook for Payments, Processors and IT Services. While the firm still views Flywire as a top decile grower in its coverage, it views last quarter as marking “a change in momentum” and notes that its 23% top-line growth forecast for FY24 is below consensus at 30%.
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