Wise PLC Class A, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Gustavo Gala from Monness reiterated a Buy rating on the stock and has a p1,400.00 price target.
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Gustavo Gala has given his Buy rating due to a combination of factors that suggest Wise PLC Class A is well-positioned for growth. The company’s strategic shift in its primary listing to the US, while maintaining a secondary listing on the LSE, is expected to enhance its valuation and provide access to key real-time payment systems in the US. This access is anticipated to reduce costs for both Wise and its consumers, potentially boosting the company’s competitive edge over time.
Additionally, Wise’s operational metrics show promising growth, with significant increases in monthly active users and app downloads across various platforms. The company’s cost advantages are expected to be passed on to consumers, strengthening its market position. Furthermore, Wise’s expanding partnerships with banks as an FX provider are likely to drive increased volumes and competition with major players like Visa’s CurrencyCloud. These factors, combined with the potential for enhanced earnings growth and operating leverage, make Wise’s shares a compelling investment opportunity.
In another report released on July 8, Jefferies also maintained a Buy rating on the stock with a p1,231.00 price target.