Wipro Limited (NYSE: WIT) is -49.69% lower on its value in year-to-date trading and has touched a low of $4.92 and a high of $9.96 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The WIT stock was last observed hovering at around $4.98 in the last trading session, with the day’s loss setting it -0.07% off its average median price target of $5.22 for the next 12 months. It is also 30.16% off the consensus price target high of $7.03 offered by 41 analysts, but current levels are -19.76% lower than the price target low of $4.10 for the same period.
Currently trading at $4.91, the stock is -3.43% and -5.70% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.55 million and changing -1.41% at the moment leaves the stock -27.38% off its SMA200. WIT registered -47.82% loss for a year compared to 6-month loss of -38.63%.
The stock witnessed a -5.39% gain in the last 1 month and extending the period to 3 months gives it a -7.88%, and is -3.91% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.63% over the week and 1.60% over the month.
Wipro Limited (WIT) has around 258574 employees, a market worth around $28.30B and $10.32B in sales. Current P/E ratio is 18.60 and Fwd P/E is 14.97. Profit margin for the company is 14.00%. Distance from 52-week low is -0.20% and -50.70% from its 52-week high. The company has generated returns on investments over the last 12 months (13.30%).
Wipro Limited (WIT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Wipro Limited (WIT) is a “Hold”. 41 analysts offering their recommendations for the stock have an average rating of 4.50, where 14 rate it as a Hold and 4 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 10 analysts have rated the stock as a Sell or Underperform.
Wipro Limited is expected to release its quarterly report on 10/18/2022.The EPS is expected to grow by 16.90% this year
Wipro Limited (WIT) Top Institutional Holders
The shares outstanding are 5.47B, and float is at 5.47B with Short Float at 0.24%.
Wipro Limited (WIT): Who are the competitors?
The company’s main competitors (and peers) include Accenture plc (ACN) that is trading -19.85% down over the past 12 months and HP Inc. (HPQ) that is -3.09% lower over the same period. International Business Machines Corporation (IBM) is -1.64% down on the 1-year trading charts.