WEX

WEX · NYSE

$185.12+$1.86 (+1.01%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $183.26

WEX analyst rating

HoldConsensus of 11 analysts over the last 12 months. 45% rate it a buy.

Strong buy0
Buy5
Hold6
Underperform0
Sell0

12-month price target · 13 analysts

Average $198.10 (+7.0% upside)

Low: $173.72
Now: $185.12
High: $235.20

Upgrades and downgrades

The latest rating actions, newest first

WEX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Sep 11, 2026	Initiates	Neutral	$209.00	72%
Mizuho	Jul 24, 2026	Maintains	Outperform	$170.00 → $200.00	46%
Keefe, Bruyette & Woods	Jul 24, 2026	Maintains	Outperform	$200.00 → $210.00	52%
Morgan Stanley	Jul 21, 2026	Maintains	Equal-Weight	$161.00 → $172.00	100%
Cantor Fitzgerald	Jun 29, 2026	Maintains	Neutral	$173.00 → $152.00	49%
Deutsche Bank	Jun 12, 2026	Maintains	Hold	$180.00 → $160.00	64%
Loop Capital	Apr 28, 2026	Initiates	Buy	$195.00	58%
Morgan Stanley	Apr 24, 2026	Maintains	Equal-Weight	$158.00 → $161.00	100%
Baird	Apr 23, 2026	Maintains	Outperform	$210.00 → $220.00	66%
Morgan Stanley	Apr 21, 2026	Maintains	Equal-Weight	$146.00 → $158.00	100%

The case for and against

Updated Oct 10, 2024

Bull case

WEX Inc. is expected to achieve a slight revenue and EPS beat in Q1, driven by improved fuel prices and high incremental margins, which could lead to rising estimates. The company's core Fleet card business is well-positioned within a large global total addressable market (TAM), and there are expectations for organic revenue growth to compound at 8% over the next five years while free cash flow margins may expand to 41% by year five. Additionally, the company is poised for strong EBIT margin expansion and a reduction in costs associated with bad debt and fraud, further enhancing its competitive advantage and profitability.

Bear case

WEX Inc faces significant challenges as management indicates that each $0.10 decline in fuel prices adversely impacts earnings per share (EPS) by approximately $0.20, highlighting the sensitivity of its revenue to fuel costs. Additionally, the company's segment growth rate falls short of its long-term target, recording only about 2% growth excluding fuel price headwinds, compared to the expected 4%-8% target. Furthermore, WEX's valuation metrics, including a projected trading multiple of 11.7 times estimated 2025 EPS, suggest a persistent discount relative to market averages, indicating potential difficulties in achieving compelling stock performance amidst operational and market pressures.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.