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

Wise plc (LON:WISE) shares dropped 1.5% on Wednesday . The company traded as low as GBX 851.40 and last traded at GBX 853.60. 714,266 shares were traded during trading, a decline of 96% from the average daily volume of 16,480,400 shares. The stock had previously closed at GBX 867.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WISE. Peel Hunt reaffirmed a “hold” rating and set a GBX 900 price target on shares of Wise in a research report on Friday, July 24th. Berenberg Bank reissued a “buy” rating on shares of Wise in a research report on Thursday, June 11th. Canaccord Genuity Group initiated coverage on shares of Wise in a research note on Wednesday, September 2nd. They set a “buy” rating and a GBX 1,171 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Wise from GBX 1,320 to GBX 1,300 and set an “overweight” rating on the stock in a report on Friday, July 17th. Finally, Jefferies Financial Group cut their target price on shares of 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,192.

Wise Price Performance

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. The firm has a market capitalization of £8.40 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.28 and a beta of 0.55. The business has a fifty day moving average of GBX 920.31 and a two-hundred day moving average of GBX 928.48.

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.