WEX Gives Trucking Customers Access to Its Savings Network

Zacks Equity Research

WEX Inc. WEX has announced that it recently gave its trucking customers access to its fuel discount network.

This network which forms a part of WEX’s new WEX EDGE business savings network, allows WEX merchants to offer savings on truck fuel purchases. Customers can access such discounts at thousands of participating locations across the United States, thereby reducing cost and maintaining uninterrupted deliveries amid the coronavirus pandemic.

WEX EDGE was recently launched with a view to help small fleets and businesses sail through the tough economic conditions by allowing them to avail highly curated and discounted offers that are otherwise available only to large companies.

"We’re thrilled our merchant partners came together to offer this discount network to our trucking customers who are providing such a critical service by continuing to deliver goods and services to all of us right now," said Tim Hampton, senior vice president and general manager of WEX’s over-the-road business.

Notably, WEX’s shares have gained a massive 73.5% over the past three months, significantly outperforming the 26.8% rally of the industry it belongs to.

Zacks Rank and Stocks to Consider

WEX currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader Zacks Business Services sector are Elastic N.V. ESTC, SailPoint Technologies Holdings, Inc. SAIL and DocuSign, Inc. DOCU. All the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Long-term earnings (three to five years) growth rates for Elastic, SailPoint Technologies and DocuSign are estimated at 26%, 15% and 31.2% respectively.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.

Click here for the 6 trades >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
WEX Inc. (WEX) : Free Stock Analysis Report
 
SailPoint Technologies Holdings, Inc. (SAIL) : Free Stock Analysis Report
 
DocuSign Inc. (DOCU) : Free Stock Analysis Report
 
Elastic N.V. (ESTC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting.