Wise PLC (LSE:WISE) has had a 'sell' recommendation reiterated by analysts at Citi after its third-quarter update and a 55% rally in the share price since early November.
More foreign exchange (FX) volatility and contract wins for the Wise Platform have driven the share price higher, but Citi says its web/app visits data shows a more muted trend into the third quarter results.
High FX volatility also will have an impact on second half 2025 gross margins, added the bank.
“We also see limited support from the elevated valuation of a 50 times calendar year 2026 underlying PE. We open a downside Short Term View.”
Shares were down 2% at 1,032p.