In a report released yesterday, David Koning from Robert W. Baird maintained a Buy rating on WEX (WEX), with a price target of $236.00. The company’s shares closed last Thursday at $221.10, close to its 52-week high of $234.64.
According to TipRanks.com, Koning is a top 100 analyst with an average return of 20.0% and a 82.7% success rate. Koning covers the Technology sector, focusing on stocks such as Fidelity National Info, Sykes Enterprises, and Global Payments.
Currently, the analyst consensus on WEX is a Moderate Buy with an average price target of $228.45, a 1.5% upside from current levels. In a report issued on February 11, Susquehanna also maintained a Buy rating on the stock with a $250.00 price target.
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WEX’s market cap is currently $10.15B and has a P/E ratio of 210.40. The company has a Price to Book ratio of -5.39.
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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.
