Flywire downgraded to Equal Weight from Overweight at Stephens

Stephens analyst Charles Nabhan downgraded Flywire (FLYW) to Equal Weight from Overweight with a price target of $15, down from $26, citing a lack of revenue visibility in the education vertical that resulted in a materially lower-than-expected FY25 growth outlook. While the firm acknowledges the “deeply discounted valuation and strategic optionality,” the demand destruction in key markets remains a concern and it views the uncertain policy backdrop and political landscape in the U.S. and Canada as variable, the analyst tells investors.