Wise (LON:WISE) Shares Down 10.9% – Here’s Why

Wise plc (LON:WISE) shares traded down 10.9% on Monday . The company traded as low as GBX 830 and last traded at GBX 832. 11,685,739 shares changed hands during trading, a decline of 31% from the average session volume of 16,898,488 shares. The stock had previously closed at GBX 934.

Wise News Summary

Here are the key news stories impacting Wise this week:

• Positive Sentiment: Jefferies reiterated its buy rating on Wise and kept a GBX 1,299 price target, signaling that at least one analyst still sees meaningful upside despite the recent selloff. Broker rating source
• Neutral Sentiment: News coverage across multiple outlets confirms the investigation is centered on alleged AML control failures in Belgium, but there has been no public indication yet of charges or financial penalties. Wise shares tumble over AML investigation
• Negative Sentiment: The Belgian probe has sparked a sharp drop in Wise’s shares, as investors price in the risk of tighter regulation and possible damage to the company’s growth narrative. Belgium investigates Wise Europe over anti-money laundering controls

Analyst Ratings Changes

WISE has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of Wise from GBX 1,225 to GBX 1,260 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 1,299 target price on shares of Wise in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 1,303.

Wise Stock Down 5.5%

The company has a debt-to-equity ratio of 21.03, a quick ratio of 0.06 and a current ratio of 140.08. The stock’s 50-day moving average price is GBX 979.62 and its two-hundred day moving average price is GBX 919.38. The stock has a market capitalization of £8.21 billion, a PE ratio of 22.18, a P/E/G ratio of 1.28 and a beta of 0.54.

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.