• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Wise share price outlook as revenue and profits jump
Investing

Wise share price outlook as revenue and profits jump

by November 29, 2022
by November 29, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Wise (LON: WISE) share price remained in a tight range on Tuesday after the company published the latest financial results. The stock was trading at 610p, which was slightly below October’s high of 727p. It remains about 114% above the lowest level this year.

Half-year results

Wise is a leading fintech company that makes it easier and cheaper for people and companies to move money internationally. It has millions of customers around the world and is a major competitor of technology companies like Paysend and WorldRemit.

Wise published its half-year results on Tuesday. According to the management, the firm’s revenue rose by 55% to £256 million to £397 million. Its total income jumped by 63% to £416 million while profit before tax surged to £51.3 million. Free cash flows increased by 33% to £78.3 million.

Wise benefited from higher transaction volume and interest rates. Its total volume rose to £51.3 billion while net interest income n customer balances rose to £18.7 million. Interest rates have risen sharply in the UK this year as the Bank of England attempts to battle inflation.

Wise share price has been one of the best-performing in the FTSE 250 and FTSE 100 as demand for its services has risen. Further, with interest rates rising, the company’s deposits have continued to attract interest. In a statement, the firm’s CEO said:

“And while we had to increase prices on some routes, we were able to decrease fees on others, enabling us to limit the impact of more volatile markets. As a result, our average fee today is 0.64%.”

Still, the company is facing significant challenges. There has been a wide sell-off in tech stocks, with companies like PayPal and Block crashing by over 50%. It is also under investigation by the Financial Conduct Authority into its CEO’s tax payments.

Wise share price forecast

Wise chart by TradingView

The daily chart shows that the Wise stock price has been in a strong recovery in the past few months. The rally saw it reach the 50% Fibonacci Retracement level. Recently, however, the stock has pulled back while the Relative Strength Index (RSI) has formed a bearish divergence pattern.

Wise shares will likely continue rising as buyers target the key resistance level at 732p.  A move above this resistance will mean that bulls have prevailed, which will push it above 800p. A drop below the support at 551p will invalidate the bullish view.

The post Wise share price outlook as revenue and profits jump appeared first on Invezz.

You Might Also Like
  • IAG share price recovery hit by turbulence: More upside?
  • Protective Put: Defensive Option Strategy Explained
  • This market technician sees S&P 500 back at 4,625 this year
  • Sell Manchester United stock ahead of earnings. Here are the technical indicators
Share
0
FacebookTwitterPinterestWhatsapp

previous post
4 market-moving events to watch in December
next post
Bruce Kovner’s 4 trading principles that made him one of the greatest investors of all time

You may also like

Top 3 large-cap stocks reporting earnings in the first week...

December 28, 2022

Steady PutWrite 2022 Year In Review

January 16, 2023

Harnessing Monte Carlo Simulations for Options Trading: A Strategic Approach

October 22, 2024

Gamma Risk Explained

February 9, 2023

U.S. job market is still very hot: what to expect...

December 2, 2022

Please Follow Me Inside The Insiders

March 6, 2024

7 Steps To Take Your Investments To The Next Level

January 20, 2023

DAM Finance releases testnet for its omnichain stablecoin d20

December 2, 2022

Blackstone vs Blackrock: Better buy after a tough 2022

December 26, 2022

Is Lululemon Athletica eyeing a Santa Claus rally to the...

December 7, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,309 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Here’s why Apple stock will ‘significantly’...

    December 25, 2022

    S&P 500 will keep within this...

    December 6, 2022

    Swiss Startup dua launches token sale...

    November 25, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here