Wipro Limited [WIT] is -52.56% lower this YTD. Is it still time to buy?

Wipro Limited [NYSE: WIT] traded at a high on 10/17/22, posting a 4.28 gain after which it closed the day’ session at $4.63. The company report on October 12, 2022 that Wipro announces second quarter results, delivers growth of 4.1% QoQ.

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IT Services revenue for the quarter increased 4.1% and 12.9% YoYOrder bookings (Total Contract Value) grew by 23.8% YoYLarge deal bookings grew by 42% YoY in H1’23IT Services Operating Margins at 15.1%Free cash flow to Net Income at 166% for the quarter.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2022.

The results of the trading session contributed to over 7309440 shares changing hands. Over the past one week, the price volatility of Wipro Limited stands at 3.90% while the volatility over the past one month is 2.26%.

The market cap for WIT stock reached $26.34 billion, with 5.48 billion shares outstanding and 5.47 billion shares in the current float. Compared to the average trading volume of 2.99M shares, WIT reached a trading volume of 7309440 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $4.38 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 4.70. 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.

Credit Suisse have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 13, 2022. The new note on the price target was released on September 13, 2022, representing the official price target for Wipro Limited stock.

The Average True Range (ATR) for Wipro Limited is set at 0.14, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 2.54. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 0.74. Price to Free Cash Flow for WIT in the course of the last twelve months was 37.79 with Quick ratio for the last quarter at 2.00.

How has WIT stock performed recently?

Wipro Limited [WIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.09. With this latest performance, WIT shares dropped by -6.65% in over the last four-week period, additionally sinking by -32.90% over the last 6 months – not to mention a drop of -53.28% 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 41.94, with the RSI for the last a single of trading hit 42.94, and the three-weeks RSI is set at 41.61 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 5.04, while it was recorded at 4.60 for the last single week of trading, and 6.36 for the last 200 days.

Wipro Limited [WIT]: Deeper insight into the 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 2.00 and a Current Ratio set at 2.00.

Earnings analysis for Wipro Limited [WIT]

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%.

Insider trade positions for Wipro Limited [WIT]

There are presently around $538 million, or 2.20% of WIT stock, in the hands of institutional investors. The top three institutional holders of WIT stocks are: BLACKROCK INC. with ownership of 15,485,243, which is approximately -3.42% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 12,339,737 shares of the stock with an approximate value of $57.13 million in WIT stocks shares; and STATE STREET CORP, currently with $43.09 million in WIT stock with ownership of nearly -10.267% of the company’s market capitalization.

Positions in Wipro Limited stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 111 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 17,260,755 shares. Additionally, 97 investors decreased positions by around 21,916,616 shares, while 26 investors held positions by with 77,001,161 shares. The mentioned changes placed institutional holdings at 116,178,532 shares, according to the latest SEC report filing. WIT stock had 31 new institutional investments in for a total of 5,699,373 shares, while 30 institutional investors sold positions of 5,102,048 shares during the same period.


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