Andrew Bauch, an analyst from Wells Fargo, maintained the Hold rating on WEX (WEX – Research Report). The associated price target is $140.00.
Andrew Bauch has given his Hold rating due to a combination of factors including WEX’s recent financial performance and future guidance. The company reported first-quarter results that slightly exceeded expectations, with revenues and adjusted earnings per share (EPS) surpassing forecasts. However, despite this positive outcome, the revised full-year revenue guidance was lowered, reflecting potential challenges ahead.
Additionally, the company’s various business segments showed mixed results, with some areas performing better than anticipated while others faced declines. The management’s assumptions about fuel prices and macroeconomic conditions also played a role in the cautious outlook. These elements combined suggest a balanced view, leading to the Hold rating as investors await further clarity on the company’s strategic direction and market conditions.
In another report released yesterday, Barclays also maintained a Hold rating on the stock with a $135.00 price target.
WEX’s price has also changed moderately for the past six months – from $173.760 to $130.370, which is a -24.97% drop .