Wise Group (NASDAQ:WSE) Price Target Raised to $18.00

Key Points

• UBS raised its price target on Wise Group to $18 from $17.25 and maintained a Buy rating, implying 54.27% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus Buy rating and average price target of $17.12, though one firm downgraded the stock to Sell.
• Wise Group reported quarterly EPS of $0.12 on revenue of $726.55 million; shares rose 6.8% on Friday to $11.67.

Wise Group (NASDAQ:WSE - Get Free Report) had its target price boosted by analysts at UBS Group from $17.25 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective indicates a potential upside of 54.27% from the company's previous close.

Several other brokerages have also recently weighed in on WSE. Canaccord Genuity Group began coverage on shares of Wise Group in a report on Wednesday, September 2nd. They issued a "buy" rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Wise Group from $17.30 to $17.70 and gave the stock an "overweight" rating in a report on Friday, October 16th. Wall Street Zen cut shares of Wise Group from a "hold" rating to a "sell" rating in a report on Saturday, October 17th. Monness Crespi & Hardt raised shares of Wise Group to a "strong-buy" rating in a research report on Friday, October 16th. Finally, Weiss Ratings upgraded shares of Wise Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $17.12.

Wise Group Trading Up 6.8%

WSE traded up $0.74 on Friday, hitting $11.67. 6,624,574 shares of the company were exchanged, compared to its average volume of 1,625,152. The business has a 50-day moving average price of $11.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.07 and a quick ratio of 1.07. Wise Group has a twelve month low of $10.36 and a twelve month high of $17.47.

Wise Group (NASDAQ:WSE - Get Free Report) last posted its quarterly earnings results on Friday, November 13th. The company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $726.55 million during the quarter. Sell-side analysts expect that Wise Group will post 0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wise Group news, insider Nilan Peiris sold 58,262 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $11.75, for a total value of $684,578.50. Following the transaction, the insider directly owned 2,516,438 shares in the company, valued at $29,568,146.50. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Emmanuel Francois Je Thomassin sold 6,040 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $11.75, for a total transaction of $70,970.00. Following the sale, the chief financial officer directly owned 4,853 shares in the company, valued at approximately $57,022.75. The trade was a 55.45% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 106,626 shares of company stock worth $1,252,856 over the last 90 days.

Institutional Trading of Wise Group

Several institutional investors have recently modified their holdings of WSE. Wealth Alliance LLC boosted its stake in Wise Group by 90.1% in the third quarter. Wealth Alliance LLC now owns 23,532 shares of the company's stock valued at $268,000 after acquiring an additional 11,153 shares in the last quarter. Te Ahumairangi Investment Management Ltd acquired a new stake in shares of Wise Group during the third quarter worth about $7,679,000. Edmond DE Rothschild Holding S.A. purchased a new position in Wise Group during the 3rd quarter worth approximately $35,522,000. GW&K Investment Management LLC purchased a new position in Wise Group during the 3rd quarter worth approximately $23,303,000. Finally, USS Investment Management Ltd purchased a new position in Wise Group during the 3rd quarter worth approximately $2,323,000.

About Wise Group

Wise Group AB is a Swedish human resources and staffing company that provides recruitment, consulting and related workforce services to employers. Its services have covered areas including information technology, finance, human resources, sales and marketing. The company serves businesses in Sweden through specialist brands and teams focused on different professional fields. Its offerings include permanent recruitment, interim staffing and consulting support. Wise Group was founded in 1999 and is headquartered in Stockholm, Sweden.

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