Flywire price target lowered to $25 from $27 at Citi

Citi lowered the firm’s price target on Flywire to $25 from $27 and keeps a Buy rating on the shares. The company reported in-line revenue and adjusted EBITDA upside for Q2, but it lowered the fiscal 2024 revenue outlook to reflect greater impact from education volumes in Canada related to student visa policy and enrollment timing impacts, an ongoing investor concern, the analyst tells investors in a research note. The firm believes Flywire’s valuation remains attractive relative to its growth and that the longer-term opportunity remains intact.