Report
Soomit Datta
EUR 9461.00 For Business Accounts Only

WISE (Neutral, TP: £9.00, +4%) Wise - Upgrades from NII to continue; Slowing Core and falling rates the concern; Updated estimates

Wise reported its Q3 Trading Statement this morning with NII ahead of expectations. Strong stock performance in 2023 was driven by consensus upgrades to EBITDA / net income and we expect another round from NII to come: deposit remuneration has levelled out for now (33% of retained yield in Q3), and Wise will likely jettison the target of 80% return to depositors.
Underlying
Wise Group AB

Wise Group AB is a Sweden-based provider of services and tools in the area of human resources management (HRM). It is a parent company within the Wise Group (the Group). The Group offers Web-based services within process descriptions and document support, expertize and capacity within professional consultancy services, as well as recruitment, management outplacement and career coaching. As of December 31, 2011, the Company had six subsidiaries, which operated as separate business segments, namely Netsurvey Bolinder AB, responsible for employee and customer surveys; Wise Consulting AB, responsible for coaching, conversions and human resources (HR) consulting; Wise OnLine AB, offering online services for information and decision support in the HR area; K2 Search AB, a search and executive search company; Wise Professionals AB, engaged in the recruitment of skilled staff for advanced services, and Talentum HR AB, offering consultancy, guidance, education and seminars.

Provider
New Street Research
New Street Research

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Analysts
Soomit Datta

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