Wipro (NYSE:WIT) had its price target lowered by investment analysts at Wedbush from $4.25 to $3.75 in a report released on Thursday. The firm currently has an “underperform” rating on the information technology services provider’s stock. Wedbush’s target price suggests a potential downside of 8.54% from the stock’s current price.
Other analysts have also issued research reports about the company. TheStreet upgraded Wipro from a “c” rating to a “b-” rating in a research note on Friday, January 18th. Zacks Investment Research upgraded Wipro from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Saturday, January 26th. Deutsche Bank started coverage on Wipro in a research note on Thursday, January 10th. They set a “hold” rating on the stock. Finally, Credit Suisse Group lowered Wipro from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 22nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.18.
NYSE:WIT opened at $4.10 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.77 and a current ratio of 2.79. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.86 and a beta of 0.49. Wipro has a 12-month low of $3.38 and a 12-month high of $4.35.
Wipro (NYSE:WIT) last released its quarterly earnings data on Friday, January 18th. The information technology services provider reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Wipro had a return on equity of 16.16% and a net margin of 14.51%. Equities research analysts predict that Wipro will post 0.2 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Wipro by 214.7% during the third quarter. JPMorgan Chase & Co. now owns 315,280 shares of the information technology services provider’s stock worth $1,643,000 after purchasing an additional 215,109 shares during the period. First Command Financial Services Inc. bought a new position in shares of Wipro during the fourth quarter worth approximately $28,000. Banco de Sabadell S.A bought a new position in shares of Wipro during the third quarter worth approximately $490,000. Federated Investors Inc. PA bought a new position in shares of Wipro during the third quarter worth approximately $304,000. Finally, GAM Holding AG grew its position in Wipro by 138.8% during the third quarter. GAM Holding AG now owns 516,104 shares of the information technology services provider’s stock worth $2,689,000 after buying an additional 300,000 shares in the last quarter. Institutional investors own 2.14% of the company’s stock.
Wipro Company Profile
Wipro Limited operates as an information technology (IT), consulting, and business process services (BPS) company worldwide. The company's IT Services segment offers a range of IT and IT-enabled services, including digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, infrastructure services, analytics services, BPS, research and development services, and hardware and software design services to various enterprises.
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