Flywire price target lowered to $17 from $20 at RBC Capital

RBC Capital lowered the firm’s price target on Flywire (FLYW) to $17 from $20 and keeps an Outperform rating on the shares after its Q1 earnings miss. In the face of student immigration headwinds in the US, Canada, and Australia, Flywire has proven its ability to sell through the uncertainty with momentum in its Student Financial Software, as well as a better-than-expected quarter from Australian education, the analyst tells investors in a research note. The narrative in Canada and Australia will remain an overhang, and although Australia performed well, management called out that second half could see enrollment rates decline, the firm adds.