Wipro Limited [WIT] is -49.08% lower this YTD. Is it still time to buy?


Wipro Limited [NYSE: WIT] stock went on a downward path that fall over -4.05% on Tuesday, amounting to a one-week price decrease of less than -4.24%. The company report on July 26, 2022 that Nokia Extends Strategic Partnership with Wipro to Drive Digital Transformation and Efficiencies in Global Business Services.

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The new agreement supports Nokia’s strategy to accelerate competitiveness and aims to grow margins through digitalization of operations, automation and capturing emerging opportunities.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global technology services and consulting company, have announced a new five-year strategic engagement with Nokia, the world’s leading multinational, networking, telecommunications and consumer electronics company. The new agreement builds on a partnership originally established over 20 years ago and is a testament to the strength of the relationship.

Over the last 12 months, WIT stock dropped by -40.55%. The one-year Wipro Limited stock forecast points to a potential upside of 1.78. The average equity rating for WIT stock is currently 4.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $27.37 billion, with 5.47 billion shares outstanding and 1.47 billion shares in the current float. Compared to the average trading volume of 3.43M shares, WIT stock reached a trading volume of 5453297 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Wipro Limited [WIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WIT shares is $5.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WIT stock is a recommendation set at 4.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Sell, with their previous recommendation back on July 20, 2022. The new note on the price target was released on July 14, 2022, representing the official price target for Wipro Limited stock. Previously, the target price had yet another drop from $7.30 to $4.70, while Jefferies kept a Underperform rating on WIT stock.

The Average True Range (ATR) for Wipro Limited is set at 0.15, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 2.65. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 0.70. Price to Free Cash Flow for WIT in the course of the last twelve months was 69.79 with Quick ratio for the last quarter at 1.90.

WIT Stock Performance Analysis:

Wipro Limited [WIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.24. With this latest performance, WIT shares dropped by -9.47% in over the last four-week period, additionally sinking by -34.78% over the last 6 months – not to mention a drop of -40.55% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WIT stock in for the last two-week period is set at 37.04, with the RSI for the last a single of trading hit 36.08, and the three-weeks RSI is set at 37.29 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 5.57, while it was recorded at 5.11 for the last single week of trading, and 7.51 for the last 200 days.

Insight into Wipro Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Wipro Limited [WIT] shares currently have an operating margin of +16.91 and a Gross Margin at +29.72. Wipro Limited’s Net Margin is presently recorded at +15.45.

Return on Total Capital for WIT is now 17.91, given the latest momentum, and Return on Invested Capital for the company is 18.74. Return on Equity for this stock inclined to 20.18, with Return on Assets sitting at 12.79. When it comes to the capital structure of this company, Wipro Limited [WIT] has a Total Debt to Total Equity ratio set at 26.73. Additionally, WIT Total Debt to Total Capital is recorded at 21.09, with Total Debt to Total Assets ending up at 16.30. Long-Term Debt to Equity for the company is recorded at 10.88, with the Long-Term Debt to Total Capital now at 8.59.

Reflecting on the efficiency of the workforce at the company, Wipro Limited [WIT] managed to generate an average of $509,129 per employee. Receivables Turnover for the company is 4.48 with a Total Asset Turnover recorded at a value of 0.83.Wipro Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wipro Limited go to 9.00%.

Wipro Limited [WIT] Insider Position Details

There are presently around $623 million, or 2.40% of WIT stock, in the hands of institutional investors. The top three institutional holders of WIT stocks are: BLACKROCK INC. with ownership of 16,033,590, which is approximately 3.279% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 12,572,099 shares of the stock with an approximate value of $65.12 million in WIT stocks shares; and STATE STREET CORP, currently with $53.72 million in WIT stock with ownership of nearly 1.318% of the company’s market capitalization.

Positions in Wipro Limited stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 103 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 21,814,595 shares. Additionally, 108 investors decreased positions by around 29,149,626 shares, while 28 investors held positions by with 69,262,471 shares. The mentioned changes placed institutional holdings at 120,226,692 shares, according to the latest SEC report filing. WIT stock had 26 new institutional investments in for a total of 2,034,485 shares, while 36 institutional investors sold positions of 7,314,422 shares during the same period.