Flywire initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Flywire with a Buy rating and $27 price target. Flywire is a leading global payments company that has developed a proprietary payments platform, global payments network, and vertical-specific software solutions to facilitate payments across the Education, Healthcare, and Travel industries as well as in key business-to-business vertical markets, notes the analyst. Following several years of relative outperformance versus fintech peers, its stock has pulled back since the company missed Q3 earnings expectations, but the firm believes the disappointing print was driven by idiosyncratic, not structural issues and sees recent stock weakness as a good buying opportunity.