RBC Capital lowered the firm’s price target on Flywire to $34 from $41 and keeps an Outperform rating on the shares. The company’s Q1 earnings miss and guidance change illustrate the combination of FX headwinds and rolling ramp in its Canadian education business, the analyst tells investors in a research note. RBC adds however that despite these challenges, results exceed expectation for the quarter and were coupled with record new client wins.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FLYW:
- Flywire Releases Strategic Investor Presentation Update
- Flywire to Announce First Quarter 2024 Results on May 7, 2024
- Flywire price target lowered to $36 from $37 at Citi
- Flywire Partners with VTEX to Deliver Integrated Payment Experience to Higher Education Institutions across Latin America
- Flywire partners with VTEX to deliver ingrated payment experience