Wise (LON:WISE) Shares Down 3.3% – Here’s Why

Wise plc (LON:WISE)’s share price dropped 3.3% during trading on Thursday . The stock traded as low as GBX 861 and last traded at GBX 864. Approximately 243,164,719 shares traded hands during mid-day trading, an increase of 988% from the average daily volume of 22,349,316 shares. The stock had previously closed at GBX 893.50.

Analyst Ratings Changes

Several brokerages recently weighed in on WISE. JPMorgan Chase & Co. lifted their price target on Wise from GBX 1,375 to GBX 1,385 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Berenberg Bank increased their price target on Wise from GBX 1,330 to GBX 1,350 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, Jefferies Financial Group boosted their price objective on Wise from GBX 1,231 to GBX 1,299 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Wise currently has a consensus rating of “Buy” and a consensus target price of GBX 1,344.67.

Wise Trading Up 0.7%

The company has a current ratio of 1.06, a quick ratio of 0.06 and a debt-to-equity ratio of 22.88. The company has a market cap of £8.86 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 1.28 and a beta of 0.75. The firm has a 50-day moving average price of GBX 893.41 and a 200 day moving average price of GBX 967.23.

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.