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

Wise plc (LON:WISE) shares shot 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WISE shares. Berenberg Bank reaffirmed a “buy” rating on shares of Wise in a research note on Thursday, June 11th. JPMorgan Chase & Co. cut 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. Peel Hunt reaffirmed a “hold” rating and issued a GBX 900 target price on shares of Wise in a research note on Friday, July 24th. Finally, Jefferies Financial Group lowered their price target on shares of Wise from GBX 1,299 to GBX 1,239 and set a “buy” rating for the company in a report 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.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 1,197.25.

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 business has a 50-day simple moving average of GBX 894.23 and a 200 day simple moving average of GBX 921.63. The firm has a market cap of £9.50 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52.

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.