WEX Inc. (NYSE:WEX) is one of the 10 best payment processing stocks to buy now. With a moderately bullish consensus sentiment, the stock currently has a 1-year price target of $182.29, resulting in an upside potential of over 34%.
On June 12, Deutsche Bank maintained a Hold rating on WEX Inc. (NYSE:WEX) while decreasing the target price from $180 to $160 following a meeting with the company’s management. Despite the downward adjustment to the price target, the estimate still implies more than 18% upside potential at the current level.
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The firm noted that the company’s shares experienced a sell-off in recent trading sessions, following news that Amazon.com Inc. (NASDAQ:AMZN) intends to expand its less-than-truckload logistics offerings. However, the firm noted that WEX management does not consider this development a concern for now.
Back in mid-May, WEX Inc. (NYSE:WEX) announced a new share repurchase program approved by its Board of Directors. Under this plan, WEX may repurchase up to $1 billion worth of its common stock, in addition to paying any related transaction costs and excise taxes.
WEX Inc. (NYSE:WEX) is a commerce platform that offers payment solutions, transaction processing, and analytics through its Mobility segment, alongside embedded payments and accounts payable automation through its Corporate Payments segment. It also offers a SaaS platform for healthcare benefits, COBRA accounts, health savings accounts, and full-service benefit enrolment solutions.
While we acknowledge the risk and potential of WEX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WEX and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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