Market Analysts see Wipro Ltd. ADR [WIT] gaining to $5.20. Time to buy?

Wipro Ltd. ADR [NYSE: WIT] closed the trading session at $5.32.

The stocks have a year to date performance of -4.49 percent and weekly performance of -5.34 percent. The stock has been moved at 9.47 percent over the last six months. The stock has performed -12.79 percent around the most recent 30 days and changed -15.29 percent over the most recent 3-months.

If compared to the average trading volume of 2.55M shares, WIT reached to a volume of 5863980 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Wipro Ltd. ADR [WIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WIT shares is $5.66 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 3.54. 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.

Exane BNP Paribas have made an estimate for Wipro Ltd. ADR shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 17, 2024. While these analysts kept the previous recommendation, Goldman raised their target price to Sell. The new note on the price target was released on August 22, 2023, representing the official price target for Wipro Ltd. ADR stock. Previously, the target price had yet another raise to $4.30, while JP Morgan analysts kept a Underweight rating on WIT stock. On March 22, 2023, analysts decreased their price target for WIT shares from 5.10 to 3.90.

The Average True Range (ATR) for Wipro Ltd. ADR is set at 0.12, with the Price to Sales ratio for WIT stock in the period of the last 12 months amounting to 2.53. The Price to Book ratio for the last quarter was 3.36, with the Price to Cash per share for the same quarter was set at 0.88. Price to Free Cash Flow for WIT in the course of the last twelve months was 14.14 with Quick ratio for the last quarter at 2.41.

WIT stock trade performance evaluation

Wipro Ltd. ADR [WIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.34. With this latest performance, WIT shares dropped by -12.79% in over the last four-week period, additionally plugging by 9.47% over the last 6 months – not to mention a rise of 22.02% 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 28.71, with the RSI for the last a single of trading hit 23.09, and the three-weeks RSI is set at 33.97 for Wipro Ltd. ADR [WIT]. The present Moving Average for the last 50 days of trading for this stock 5.95, while it was recorded at 5.52 for the last single week of trading, and 5.25 for the last 200 days.

Wipro Ltd. ADR [WIT]: An insightful look at the core fundamentals

Wipro Ltd. ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.41 and a Current Ratio set at 2.43.

Earnings per share (EPS) analysis for Wipro Ltd. ADR [WIT] stock

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 Ltd. ADR go to 9.00%.

Wipro Ltd. ADR [WIT]: Institutional Ownership

The top three institutional holders of WIT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in WIT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in WIT stock with ownership which is approximately 5.8386%.

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