Wise (LON:WISE) Shares Down 0.1% – Here’s Why

Wise plc (LON:WISE) was down 0.1% during trading on Wednesday. The company traded as low as GBX 899.40 and last traded at GBX 919.08. Approximately 1,632,863 shares changed hands during trading, a decline of 89% from the average daily volume of 15,367,358 shares. The stock had previously closed at GBX 920.40.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Wise from GBX 1,320 to GBX 1,300 and set an “overweight” rating for the company in a report on Friday, July 17th. Canaccord Genuity Group started coverage on shares of Wise in a research report on Wednesday, September 2nd. They issued a “buy” rating and a GBX 1,171 price objective for the company. Peel Hunt restated a “hold” rating and set a GBX 900 target price on shares of Wise in a research note on Friday, July 24th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,239 target price on shares of Wise in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 1,192.

Wise Stock Down 7.7%

The firm has a market capitalization of £8.20 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.28 and a beta of 0.55. The stock has a 50 day moving average of GBX 910.53 and a 200 day moving average of GBX 927.21. 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.

About Wise

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.