FLYW - Paymentus Flywire initiated at Citi with Buy ratings

Citi is giving a vote of confidence to the payments sector, starting coverage of Paymentus (PAY) and Flywire (FLYW) with Buy ratings.Paymentus gets a $35 price target, which would be nearly 20% upside."Paymentus' per-transaction leads to many attractive financial attributes including high visibility, robust and sustainable growth, etc.," analyst Ashwin Shirvalkar writes in a note. "We also like the tech stack, which enables users to pay bills in their preferred context (biller site, PayPal, Walmart, etc.), choose how they interact with billers and benefit from actionable analytics."Flywire gets a $39 price target, about 15% above current levels."We are confident that Flywire can deliver ~30% net revenue growth based on its differentiated market approach (vertical expertise, payment platform and payment network), sizable TAM, sticky relationships and ability to continually evolve its solution set," Shirvalkar says.Flywire went public last month at $24 per share.

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Paymentus, Flywire initiated at Citi with Buy ratings