Wise (LON:WISE) Stock Price Down 1.5% – Here’s What Happened

Wise plc (LON:WISE)’s stock price was down 1.5% during mid-day trading on Wednesday . The company traded as low as GBX 851.40 and last traded at GBX 853.60. Approximately 714,266 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 16,480,400 shares. The stock had previously closed at GBX 867.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WISE shares. Canaccord Genuity Group assumed coverage on Wise in a report on Wednesday, September 2nd. They issued a “buy” rating and a GBX 1,171 price target for the company. Peel Hunt reiterated a “hold” rating and set a GBX 900 price objective on shares of Wise in a report on Friday, July 24th. Berenberg Bank reiterated a “buy” rating on shares of Wise in a research report on Thursday, June 11th. JPMorgan Chase & Co. decreased their price objective on Wise from GBX 1,320 to GBX 1,300 and set an “overweight” rating for the company in a research report on Friday, July 17th. Finally, Jefferies Financial Group lowered their target price on Wise from GBX 1,299 to GBX 1,239 and set a “buy” rating for the company in a research note on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Wise currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,192.

Wise Stock Down 1.5%

The firm has a fifty day moving average of GBX 920.31 and a 200-day moving average of GBX 928.48. The company has a quick ratio of 0.06, a current ratio of 1,467.09 and a debt-to-equity ratio of 25.12. The firm has a market cap of £8.40 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.28 and a beta of 0.55.

Wise Company Profile

Wise plc provides cross-border and domestic financial services for personal and business customers in the United Kingdom, rest of Europe, the Asia-Pacific, North America, and internationally. Its product portfolio includes international money transfer, wise account, international debit card, amount transfer, receive money, wise platform, business debit card, and mass payment services. The company was formerly known as 456 Newco plc and changed its name to Wise plc in June 2021. Wise plc was founded in 2010 and is based in London, the United Kingdom.