WEX Received its Third Buy in a Row

By Austin Angelo

After Oppenheimer and Jefferies assigned a Buy rating to WEX in the last month, the company received another Buy, this time from KBW. Analyst Sanjay Sakhrani reiterated a Buy rating on WEX (NYSE: WEX) today and set a price target of $130. The company’s shares opened today at $100.91.

According to TipRanks.com, Sakhrani is a 4-star analyst with an average return of 7.5% and a 62.9% success rate. Sakhrani covers the Financial sector, focusing on stocks such as Discover Financial Services, Capital One Financial, and Total System Services.

Currently, the analyst consensus on WEX is Strong Buy and the average price target is $128.33, representing a 27.2% upside.

In a report issued on May 4, Jefferies also reiterated a Buy rating on the stock with a $135 price target.

WEX’s market cap is currently $4.33B and has a P/E ratio of 63.87. The company has a book value ratio of 2.8093.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.

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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 customers with fleet vehicle payment processing services. The Travel and Corporate Solutions segment consists of virtual and prepaid products which provides corporate purchasing and payment capabilities that is integrated with customer internal systems to streamline corporate payments, accounts payable and reconciliation process. The Health and Employee Benefit Solutions segment involves healthcare payment products and sales-as-a-services platforms that provides payment capabilities. The company was founded by Parker Poole III and William Richardson in 1983 and is headquartered in South Portland, ME.