In a report released today, Hannes Leitner from Jefferies maintained a Buy rating on Wise PLC Class A, with a price target of p1,231.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Hannes Leitner has given his Buy rating due to a combination of factors including Wise PLC’s consistent customer growth and the company’s ability to maintain its guidance despite facing certain challenges. The company experienced a 14% year-over-year increase in income, although it was slightly below expectations due to foreign exchange headwinds and a minor shortfall in total payment volume.
Despite these challenges, Wise PLC’s customer base grew by 17%, aligning with expectations, and the company confirmed its guidance of a 15-20% growth. The cross-currency take rate saw a slight decline, but the overall performance and strategic wins, such as the UniCredit platform, contribute to a positive outlook for the stock.
In another report released on July 14, Monness also reiterated a Buy rating on the stock with a p1,400.00 price target.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WISE in relation to earlier this year.