Flywire price target lowered to $27 from $34 at BTIG

BTIG lowered the firm’s price target on Flywire to $27 from $34 and keeps a Buy rating on the shares. The company’s Q1 results were better than expected but its FY24 guidance was reduced due to unforeseen $8M FX headwind, the analyst tells investors in a research note. Flywire management expressed confidence that their visibility into Canadian regulatory impacts are now more clear, but there is still a reasonably degree of uncertainty and investor fear of regulatory overhang in other countries, the firm added.