Wise (LON:WISE) Shares Down 10.9% – What’s Next?

Shares of Wise plc (LON:WISE) dropped 10.9% on Monday . The stock traded as low as GBX 830 and last traded at GBX 832. Approximately 11,685,739 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 16,898,488 shares. The stock had previously closed at GBX 934.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WISE. JPMorgan Chase & Co. upped their target price on Wise from GBX 1,225 to GBX 1,260 and gave the company an “overweight” rating in a research report on Friday, April 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,299 target price on shares of Wise in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 1,303.

Wise Stock Down 10.9%

The firm has a 50 day moving average of GBX 979.97 and a 200 day moving average of GBX 920. The firm has a market cap of £8.33 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.28 and a beta of 0.54. The company has a quick ratio of 0.06, a current ratio of 140.08 and a debt-to-equity ratio of 21.03.

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.