WEX (WEX) Receives a Hold from Morgan Stanley
In a report released today, Steven Wald from Morgan Stanley maintained a Hold rating on WEX (WEX), with a price target of $150.00. The company’s shares closed last Friday at $124.70.
According to TipRanks.com, Wald is ranked #4093 out of 6994 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for WEX with a $182.13 average price target, representing a 46.7% upside. In a report released yesterday, Wells Fargo also maintained a Hold rating on the stock.
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The company has a one-year high of $236.52 and a one-year low of $71.12. Currently, WEX has an average volume of 403.7K.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2020, Kenneth Janosick, the Chief Portfolio Risk Officer of WEX bought 4,782 shares for a total of $369,170.
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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.