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.

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WEX Inc. (WEX) : Free Stock Analysis Report
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