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WEX Inc.

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WEX trade ideas

WEX Inc | WEX | Long at $180.00NYSE:WEX Inc has a 40.8M float and recently initiated a $300 million share buyback. The stock has been in consolidation mode for some time and is playing "nicely" along my selected historical simple moving average (SMA). Recently, it may have double-bottomed off this SMA and, given the buyback, may move progressively up toward the $230's where there is a large price gap on the daily chart. It is currently in a personal buy zone at $180.00. Target #1 = $209.00 Target #2 = $231.00
NYSE:WEXLong
by NicksAnalysis
WEX INC THE ALTERNATIVE FINTECH TRADEWe all love and know Visa, Mastercard, Square and Paypal but pretty sure that WEX is not a company that springs to mind when discussing fintech. From the company profile below you will see that it is not exactly mainstream but maybe if you have ever used a company fuel card WEX may have been the processor behind it. It does have a high p/e ratio but it is common among its peers, it is in high growth and making acquisition worldwide to maintain that growth. Technically the chart is very bullish, with indicators in strong uptrends while also supported by perfectly aligned MA's. Having just broke out of near term resistance we think it is abuy at $219, with $245 as a reasonable target. AVERAGE ANALYSTS PRICE TARGET $221 AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT P/E RATIO 70 COMPANY PROFILE 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.
NYSE:WEXLong
by RedHotStocks