Flywire rises as brokerages assume coverage with upbeat ratings

Flywire

21/06/2021 12:38

** Shares of fintech firm  FLYW.O  up 1.03% at $34.2 in
premarket trading after multiple brokerages initiate the
coverage of the stock
    ** At least three brokerages including RBC, William Blair
assumes with "outperform", while Citigroup and JPMorgan starts
with "buy" and "overweight", respectively
    ** RBC believes the co is uniquely positioned to solve
various payment friction points embedded in its key verticals,
which include education, healthcare, and travel 
    ** Brokerage expects the company to generate more than 30% 
revenue CAGR over the next three years
    ** Adds that the payment platform facilitates payments
across multiple currencies, payment types, and options, and is
deeply integrated into clients' apps and workflows 
    ** Up to Friday's close, stock had risen ~41% from its IPO
price of $24 on May 27

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))