Flywire price target lowered to $33 from $35 at Wells Fargo

Wells Fargo lowered the firm’s price target on Flywire to $33 from $35 and keeps an Overweight rating on the shares. With a sizable secondary raised in August, investors were likely disappointed by a quarter plagued by FX, select implementation challenges and other one-off items, the firm notes. That said, Wells believes the playbook and opportunity are unchanged.