Wise (LON:WISE) Trading Down 3.3% – Here’s What Happened

Wise plc (LON:WISE) dropped 3.3% on Thursday . The company traded as low as GBX 861 and last traded at GBX 864. Approximately 243,164,719 shares were traded during mid-day trading, an increase of 988% from the average daily volume of 22,349,316 shares. The stock had previously closed at GBX 893.50.

Wall Street Analysts Forecast Growth

WISE has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Wise from GBX 1,375 to GBX 1,385 and gave the company an “overweight” rating in a research note on Thursday, January 22nd. Berenberg Bank increased their price objective on shares of Wise from GBX 1,330 to GBX 1,350 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, Jefferies Financial Group boosted their target price on shares of Wise from GBX 1,231 to GBX 1,299 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 1,344.67.

Wise Stock Performance

The company has a market capitalization of £8.79 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.28 and a beta of 0.75. The business has a 50 day moving average of GBX 892.97 and a 200 day moving average of GBX 968.24. The company has a quick ratio of 0.06, a current ratio of 1.06 and a debt-to-equity ratio of 22.88.

Wise Company Profile

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.