Flywire (FLYW) PT Lowered to $34 at RBC Capital

RBC Capital analyst Daniel Perlin lowered the price target on Flywire (NASDAQ: FLYW) to $34.00 (from $41.00) while maintaining a Outperform rating.

The analyst comments "1Q24 print and guidance change illustrate the combination of FX headwinds and rolling ramp in its Canadian education business. Despite these challenges, results exceed our expectation for the quarter and were coupled with record new client wins, with travel once again leading the pack. Nevertheless, 2Q24 and FY24 guidance incorporate incremental FX headwinds and a rolling recapture of some of the Canadian education business, which creates a more pronounced ramp in 2H24 vs. 1H24."

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