Wise (LON:WISE) Shares Up 14% – Here’s Why

Wise plc (LON:WISE)’s share price was up 14% during mid-day trading on Tuesday . The stock traded as high as GBX 982.77 and last traded at GBX 951. Approximately 57,002,137 shares changed hands during trading, an increase of 490% from the average daily volume of 9,655,655 shares. The stock had previously closed at GBX 834.

Analyst Ratings Changes

Several research firms recently weighed in on WISE. Berenberg Bank restated a “buy” rating and set a GBX 1,330 price target on shares of Wise in a research report on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Wise from GBX 1,380 to GBX 1,375 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Wise currently has a consensus rating of “Buy” and a consensus target price of GBX 1,352.50.

Wise Stock Performance

The company’s fifty day moving average is GBX 876.80 and its 200 day moving average is GBX 983.27. 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 capitalization of £9.68 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.28 and a beta of 0.75.

Wise (LON:WISE) last posted its quarterly earnings results on Thursday, November 6th. The company reported GBX 18.23 EPS for the quarter. Wise had a return on equity of 41.22% and a net margin of 25.11%. As a group, equities analysts anticipate that Wise plc will post 37.7347752 earnings per share for the current year.

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.