Flywire price target lowered to $33 from $37 at BTIG

BTIG analyst Andrew Harte lowered the firm’s price target on Flywire to $33 from $37 and keeps a Buy rating on the shares. The company’s Q3 revenue and EBITDA were record high but still fell short of the high bar investors had going into the print, the analyst tells investors in a research note. Flywire saw delayed deployments in its Education and Healthcare verticals during Q3 and also experienced lower than expected FX payment volumes from India in its Education Vertical, the firm states, adding that its reduced price target also reflects a subdued risk appetite across its coverage universe.