Flywire price target lowered to $33 from $36 at UBS

UBS lowered the firm’s price target on Flywire to $33 from $36 and keeps a Buy rating on the shares post the Q3 report. The analyst says the high end of the company’s fiscal 2023 adjusted revenue guidance was reduced on a reported basis as Flywire sees longer deployment cycles and currency translation impacts. However, the firm continues to believe Flywire possesses several attractive qualities, including high growth and defensive end-markets, a clear path to EBITDA margin expansion.