Wise (LON:WISE) Stock Price Up 2.3% - Here's Why

Key Points

• Wise plc shares increased by 2.3% during mid-day trading on Thursday, reaching a last traded price of GBX 1,059 ($14.24), despite a significant decline in trading volume.
• Analysts have mixed views on Wise's stock, with Berenberg Bank maintaining a "buy" rating and a price target of GBX 1,270 ($17.08), while JPMorgan Chase & Co. reduced their target from GBX 1,410 ($18.96) to GBX 1,380 ($18.56).
• Insider Clare Gilmartin sold 48,360 shares at an average price of GBX 1,058 ($14.23), and currently, corporate insiders hold 23.65% of the stock.

Wise plc (LON:WISE - Get Free Report)'s stock price shot up 2.3% on Thursday . The stock traded as high as GBX 1,065 ($14.30) and last traded at GBX 1,059 ($14.22). 798,405 shares were traded during trading, a decline of 86% from the average session volume of 5,866,281 shares. The stock had previously closed at GBX 1,035 ($13.90).

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WISE. JPMorgan Chase & Co. lowered their price target on Wise from GBX 1,410 ($18.94) to GBX 1,380 ($18.54) and set an "overweight" rating on the stock in a research report on Tuesday, July 29th. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 1,270 ($17.06) price target on shares of Wise in a research note on Thursday, July 17th.

Wise Price Performance

The firm has a market cap of £10.40 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 1.28 and a beta of 0.75. The business's 50-day simple moving average is GBX 1,059.08 and its two-hundred day simple moving average is GBX 1,025.74. The company has a current ratio of 1.06, a quick ratio of 0.06 and a debt-to-equity ratio of 22.88.

Wise (LON:WISE - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported GBX 40.37 ($0.54) EPS for the quarter. Wise had a net margin of 25.11% and a return on equity of 41.22%. As a group, research analysts expect that Wise plc will post 37.7347752 EPS for the current fiscal year.

Insider Activity

In related news, insider Clare Gilmartin sold 48,360 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of GBX 1,058 ($14.21), for a total value of £511,648.80 ($687,238.15). 23.65% of the stock is currently owned by corporate insiders.

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.