Wise (LON:WISE) Stock Price Up 2.5% – Here’s What Happened

Shares of Wise plc (LON:WISE) were up 2.5% during mid-day trading on Friday . The stock traded as high as GBX 969 and last traded at GBX 962.39. Approximately 1,166,278 shares changed hands during trading, a decline of 93% from the average daily volume of 16,915,914 shares. The stock had previously closed at GBX 939.

Analysts Set New Price Targets

WISE has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Wise from GBX 1,320 to GBX 1,300 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Berenberg Bank reiterated a “buy” rating on shares of Wise in a report on Thursday, June 11th. Peel Hunt reiterated a “hold” rating and set a GBX 900 target price on shares of Wise in a report on Friday, July 24th. Finally, Jefferies Financial Group dropped their price target on Wise from GBX 1,299 to GBX 1,239 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,197.25.

Wise Trading Up 2.5%

The stock has a market cap of £9.50 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 1.28 and a beta of 0.52. The business has a 50-day simple moving average of GBX 894.23 and a two-hundred day simple moving average of GBX 921.63. The company has a debt-to-equity ratio of 25.12, a quick ratio of 0.06 and a current ratio of 1,467.09.

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.