Wipro Limited [WIT] Is Currently -1.00 below its 200 Period Moving Avg: What Does This Mean?

Wipro Limited [NYSE: WIT] slipped around -0.05 points on Wednesday, while shares priced at $4.94 at the close of the session, down -1.00%. The company report on August 1, 2023 at 8:59 AM that Wipro’s State of Cybersecurity Report Highlights the Emerging Challenges for CISOs.

The rapid rollout of AI and other disruptive technologies is creating unprecedented cybersecurity challenges for enterprises in all industries.

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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today released the 2023 edition of its State of Cybersecurity Report (#SOCR). The report presents an in-depth look at cybersecurity trends across three geographies and seven industry sectors. It gives security leaders valuable insights on industry trends, allowing them to benchmark their cyber journey against their peers and determine actions they need to take to achieve cyber resilience in the future.

Wipro Limited stock is now 6.01% up from its year-to-date (YTD) trading value. WIT Stock saw the intraday high of $4.99 and lowest of $4.91 per share. The company’s 52-week high price is 5.31, which means current price is +14.35% above from all time high which was touched on 07/19/23.

Compared to the average trading volume of 1.75M shares, WIT reached a trading volume of 2439008 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 $4.28 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 4.20. 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.

Goldman have made an estimate for Wipro Limited shares, keeping their opinion on the stock as Sell, with their previous recommendation back on August 22, 2023.

The Average True Range (ATR) for Wipro Limited is set at 0.07, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 2.33. The Price to Book ratio for the last quarter was 3.34, with the Price to Cash per share for the same quarter was set at 0.98.

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 -2.95. With this latest performance, WIT shares gained by 0.20% in over the last four-week period, additionally plugging by 5.56% over the last 6 months – not to mention a drop of -1.79% 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 49.37, with the RSI for the last a single of trading hit 45.94, and the three-weeks RSI is set at 51.28 for Wipro Limited [WIT]. The present Moving Average for the last 50 days of trading for this stock 4.87, while it was recorded at 4.97 for the last single week of trading, and 4.77 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 +15.13 and a Gross Margin at +28.67. Wipro Limited’s Net Margin is presently recorded at +12.54.

Return on Total Capital for WIT is now 15.29, given the latest momentum, and Return on Invested Capital for the company is 14.29. Return on Equity for this stock inclined to 15.77, with Return on Assets sitting at 10.07. When it comes to the capital structure of this company, Wipro Limited [WIT] has a Total Debt to Total Equity ratio set at 22.36. Additionally, WIT Total Debt to Total Capital is recorded at 18.27, with Total Debt to Total Assets ending up at 14.85. Long-Term Debt to Equity for the company is recorded at 9.89, with the Long-Term Debt to Total Capital now at 8.08.

Reflecting on the efficiency of the workforce at the company, Wipro Limited [WIT] managed to generate an average of $454,000 per employee. Receivables Turnover for the company is 4.21 with a Total Asset Turnover recorded at a value of 0.80.Wipro Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

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]

The top three institutional holders of WIT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in WIT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in WIT stock with ownership which is approximately 5.7381%.

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