Wise PLC Class A
WISE: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 988.00 | Xrxrd | Ztwbmgkqd |
Wise: First-Quarter Trading Update Within Expectations
Wise reported a first-quarter trading update with 26% customer growth and 18% volume growth. Performance is within our expectations, and we won't change our fair value estimate of GBX 560 per share and no economic moat rating. The cross-border take rate declined to 64 basis points from 67 basis points last year as Wise passed on efficiency benefits to its users. Card and other revenue grew 55% to GBP 80 million versus the same period last year, yielding results for Wise's drive to round out its currency conversion offering.