Skip to Content
Morningstar

Wise: Initiating Coverage With a GBX 520 Fair Value Estimate and No-Moat Rating

An image of an outline of computer over a keyboard.

We are launching coverage of Wise WISE with a fair value estimate of GBX 520 per share, no moat, and a stable moat trend. We believe that Wise is the low-cost provider in an industry that is commoditizing quickly. However, we do not believe that Wise has fully entrenched its competitive positions yet, which would warrant a narrow economic moat. Wise has a first-mover advantage and is gaining scale as a result of it, which could ultimately result in us awarding a narrow or wide economic moat rating in the future. At this stage, we believe that the uncertainty around the replicability of its business model does not warrant such a rating just yet. Our Uncertainty Rating is High, putting Wise into 2-star territory.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

More in Stocks

About the Author

Niklas Kammer

Equity Analyst
More from Author

Niklas Kammer, CFA is an equity analyst for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. He covers European banks.

Before joining Morningstar in 2016, Kammer interned on the equity research team at Rabobank Netherlands and in the corporate finance department at Kempen & Co.

Kammer holds a master’s degree in finance and investments from the Rotterdam School of Management.

Sponsor Center