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.
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Hannes Leitner has given his Buy rating due to a combination of factors that indicate Wise PLC’s strong financial performance and growth potential. The company reported a 16% growth in income for the second fiscal quarter, aligning with market expectations, while customer growth surpassed estimates by 1%. This indicates a robust demand for Wise’s services, which is a positive sign for future revenue streams.
Moreover, Wise’s profit before tax was slightly ahead of company consensus, driven by lower costs of sales, which suggests effective cost management. The company’s guidance for a 16% profit margin was confirmed, demonstrating confidence in its financial outlook. These factors, combined with the expectation of a positive market reaction, underpin Leitner’s Buy rating for Wise PLC’s stock.
Based on the recent corporate insider activity of 78 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.