Barclays Keeps Their Buy Rating on WEX (WEX)

In a report issued on July 29, Ramsey El Assal from Barclays maintained a Buy rating on WEX (WEXResearch Report), with a price target of $220.00. The company’s shares closed last Friday at $166.21.

According to TipRanks.com, Assal is a 3-star analyst with an average return of 2.3% and a 50.6% success rate. Assal covers the Technology sector, focusing on stocks such as TELUS International (CDA), Automatic Data Processing, and Fidelity National Info.

WEX has an analyst consensus of Moderate Buy, with a price target consensus of $203.56, which is a 19.1% upside from current levels. In a report issued on July 21, Robert W. Baird also maintained a Buy rating on the stock with a $200.00 price target.

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Based on WEX’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $518 million and net profit of $123 million. In comparison, last year the company earned revenue of $411 million and had a GAAP net loss of $2.57 million.

Based on the recent corporate insider activity of 53 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 WEX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

WEX, Inc. engages in the provision of payment processing and information management solutions. It operates through the following segments: Fleet Solutions; Travel and Corporate Solutions; and Health and Employee Benefit Solutions. The Flight Solutions segment provides payment and transaction processing services for the needs of commercial and government fleets. The Travel and Corporate Solutions segment focuses on the payment environment of business-to-business payments, providing customers with payment processing solutions for their corporate payment, and transaction monitoring needs. The Health and Employee Benefit Solutions segment involves healthcare payment products and SaaS consumer directed platforms, as well as payroll related benefits to customers. The company was founded by Parker Poole III and William Richardson in 1983 and is headquartered in Portland, ME.

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