Wipro Limited [WIT] Stock trading around $4.94 per share: What’s Next?

Wipro Limited [NYSE: WIT] traded at a low on 11/17/22, posting a -0.80 loss after which it closed the day’ session at $4.94. The company report on November 17, 2022 that Wipro Announces its Asia Pacific, Middle East and Africa (APMEA) Headquarters in Dubai.


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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced the opening of its Asia Pacific, Middle East and Africa (APMEA) Strategic Market Unit Headquarters in Dubai, UAE.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, along with prominent UAE officials, visited the newly opened headquarters on its inaugural day.

The results of the trading session contributed to over 2484792 shares changing hands. Over the past one week, the price volatility of Wipro Limited stands at 1.83% while the volatility over the past one month is 2.03%.

The market cap for WIT stock reached $25.61 billion, with 5.48 billion shares outstanding and 5.47 billion shares in the current float. Compared to the average trading volume of 3.00M shares, WIT reached a trading volume of 2484792 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 0.12, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 2.42. The Price to Book ratio for the last quarter was 3.05, with the Price to Cash per share for the same quarter was set at 0.83. Price to Free Cash Flow for WIT in the course of the last twelve months was 36.04 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 -0.60. With this latest performance, WIT shares gained by 9.29% in over the last four-week period, additionally sinking by -16.41% over the last 6 months – not to mention a drop of -45.65% 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 56.44, with the RSI for the last a single of trading hit 58.69, and the three-weeks RSI is set at 53.76 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 4.82, while it was recorded at 4.99 for the last single week of trading, and 5.93 for the last 200 days.

Wipro Limited [WIT]: Deeper insight into the fundamentals

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 $592 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 17,660,329, which is approximately 14.046% of the company’s market cap and around 79.00% of the total institutional ownership; VANGUARD GROUP INC, holding 11,941,290 shares of the stock with an approximate value of $58.99 million in WIT stocks shares; and MORGAN STANLEY, currently with $55.01 million in WIT stock with ownership of nearly 29.801% 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 104 institutional holders increased their position in Wipro Limited [NYSE:WIT] by around 15,445,353 shares. Additionally, 88 investors decreased positions by around 11,575,932 shares, while 35 investors held positions by with 92,882,981 shares. The mentioned changes placed institutional holdings at 119,904,266 shares, according to the latest SEC report filing. WIT stock had 22 new institutional investments in for a total of 2,549,528 shares, while 28 institutional investors sold positions of 1,809,743 shares during the same period.

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