Wise (LON:WISE) Stock Price Down 2.1% – Should You Sell?

Wise plc (LON:WISE) shares dropped 2.1% on Friday. The stock traded as low as GBX 807.40 and last traded at GBX 838.60. 1,372,063 shares traded hands during trading, a decline of 92% from the average session volume of 17,699,945 shares. The stock had previously closed at GBX 856.80.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WISE. JPMorgan Chase & Co. cut their target price on Wise from GBX 1,320 to GBX 1,300 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Canaccord Genuity Group initiated coverage on shares of Wise in a report on Wednesday, September 2nd. They issued a “buy” rating and a GBX 1,171 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,239 price objective on shares of Wise in a research note on Friday, October 16th. Finally, Peel Hunt reissued a “hold” rating and set a GBX 900 price objective on shares of Wise in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 1,192.

Wise Stock Performance

The company has a market cap of £8.10 billion, a PE ratio of 17.32, a PEG ratio of 1.28 and a beta of 0.55. The business’s 50-day moving average is GBX 871.01 and its 200 day moving average is GBX 912. 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.

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.