In a report released yesterday, John Davis from Raymond James maintained a Hold rating on WEX (WEX). The company’s shares closed last Thursday at $212.23.
According to TipRanks.com, Davis is a 5-star analyst with an average return of 19.1% and a 76.4% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Jack Henry & Associates, and Fidelity National Info.
Currently, the analyst consensus on WEX is a Moderate Buy with an average price target of $238.40, implying a 9.4% upside from current levels. In a report issued on April 15, Jefferies also maintained a Hold rating on the stock with a $215.00 price target.
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Based on WEX’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $399 million and GAAP net loss of $234 million. In comparison, last year the company earned revenue of $440 million and had a net profit of $54.45 million.
Based on the recent corporate insider activity of 61 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.
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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.
