BUZZ-WEX slumps after downbeat annual outlook

Shares of fintech firm WEX WEX.N slump 19.9% to $149.64

WEX late Wednesday forecast its 2025 adjusted profit between $14.65 and $15.25/shr, below Wall Street expectations of $16.79 - data compiled by LSEG

Company's annual revenue forecast of $2.60 bln to $2.66 bln also fell short of estimates of $2.71 bln

WEX's markets have evolved such that it no longer possesses a competitive advantage in the non-mobility segments, brokerage William Blair says

Adds that WEX's recent challenges and dour outlook could attract an activist investor who might seek management and business portfolio changes

WEX stock slipped 9.9% in 2024