Analysts Set Wipro Limited (NYSE:WIT) Target Price at $4.82

Wipro Limited (NYSE:WITGet Free Report) has been given an average recommendation of “Strong Sell” by the five ratings firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $4.82.

A number of equities research analysts have weighed in on WIT shares. BNP Paribas started coverage on Wipro in a report on Wednesday, January 17th. They issued an “underperform” rating and a $5.20 target price on the stock. StockNews.com raised Wipro from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. TheStreet raised Wipro from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Finally, Wedbush raised their price objective on Wipro from $4.00 to $6.00 and gave the company an “underperform” rating in a report on Tuesday, January 16th.

Check Out Our Latest Research Report on WIT

Institutional Investors Weigh In On Wipro

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Wipro by 23.1% in the second quarter. BlackRock Inc. now owns 29,106,981 shares of the information technology services provider’s stock worth $137,385,000 after purchasing an additional 5,454,757 shares during the period. Morgan Stanley increased its holdings in shares of Wipro by 23.5% in the fourth quarter. Morgan Stanley now owns 13,757,038 shares of the information technology services provider’s stock worth $64,108,000 after purchasing an additional 2,621,127 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Wipro by 50.1% in the third quarter. Acadian Asset Management LLC now owns 6,786,259 shares of the information technology services provider’s stock worth $32,837,000 after purchasing an additional 2,265,859 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Wipro by 853.7% in the second quarter. Canada Pension Plan Investment Board now owns 2,526,285 shares of the information technology services provider’s stock worth $11,924,000 after purchasing an additional 2,261,385 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Wipro by 19.1% in the second quarter. Goldman Sachs Group Inc. now owns 12,301,682 shares of the information technology services provider’s stock worth $58,064,000 after acquiring an additional 1,977,079 shares in the last quarter. Institutional investors own 2.36% of the company’s stock.

Wipro Price Performance

Shares of NYSE WIT opened at $5.99 on Friday. The firm has a market cap of $31.23 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 2.55 and a beta of 0.86. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. Wipro has a 1-year low of $4.32 and a 1-year high of $6.39. The business’s 50 day moving average is $5.52 and its 200-day moving average is $5.09.

Wipro (NYSE:WITGet Free Report) last announced its earnings results on Friday, January 12th. The information technology services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.76 billion. Wipro had a return on equity of 15.68% and a net margin of 12.42%. Equities research analysts predict that Wipro will post 0.25 earnings per share for the current year.

Wipro Company Profile

(Get Free Report

Wipro Limited operates as an information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises.

Further Reading

Analyst Recommendations for Wipro (NYSE:WIT)

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