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

Shares of Wipro Limited (NYSE:WITGet Free Report) have been given a consensus rating of “Strong Sell” by the five analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $4.82.

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

Read Our Latest Research Report on Wipro

Hedge Funds Weigh In On Wipro

Several hedge funds and other institutional investors have recently modified their holdings of WIT. Capstone Investment Advisors LLC acquired a new position in Wipro during the 4th quarter worth approximately $585,000. Sepio Capital LP purchased a new position in Wipro during the 4th quarter worth $124,000. Team Hewins LLC purchased a new position in Wipro during the 4th quarter worth $168,000. Franklin Resources Inc. grew its stake in shares of Wipro by 28.2% during the 4th quarter. Franklin Resources Inc. now owns 33,297 shares of the information technology services provider’s stock worth $185,000 after purchasing an additional 7,315 shares during the period. Finally, KLR Investment Advisors LLC acquired a new position in shares of Wipro during the 4th quarter worth $332,000. 2.36% of the stock is owned by hedge funds and other institutional investors.

Wipro Price Performance

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

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). Wipro had a net margin of 12.42% and a return on equity of 15.68%. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.76 billion. On average, sell-side analysts forecast that Wipro will post 0.25 EPS 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.

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Analyst Recommendations for Wipro (NYSE:WIT)

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