Flywire price target lowered to $36 from $41 at RBC Capital

RBC Capital analyst Daniel Perlin lowered the firm’s price target on Flywire to $36 from $41 but keeps an Outperform rating on the shares. The stock remains a compelling investment for FY24, as the company continues to expand its addressable market opportunities, both through deepening its product portfolio in existing markets, while expanding its relationships in existing verticals, such as Education and Travel, the analyst tells investors in a research note. RBC adds that Flywire’s recent capital raise should further create M&A optionality to further enhance the company’s growth rate.