Wipro Limited (NYSE: WIT) is 7.30% higher on its value in year-to-date trading and has touched a low of $4.38 and a high of $8.30 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WIT stock was last observed hovering at around $5.02 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $5.05 for the next 12 months. It is also 22.96% off the consensus price target high of $6.49 offered by 42 analysts, but current levels are -25.0% lower than the price target low of $4.00 for the same period.
Currently trading at $5.00, the stock is 6.02% and 3.70% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.35 million and changing -0.40% at the moment leaves the stock -6.65% off its SMA200. WIT registered -39.32% loss for a year compared to 6-month loss of -4.03%.
The stock witnessed a 9.17% gain in the last 1 month and extending the period to 3 months gives it a 10.62%, and is 3.31% up 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 1.58% over the week and 1.66% over the month.
Wipro Limited (WIT) has around 258744 employees, a market worth around $27.12B and $10.85B in sales. Current P/E ratio is 19.61 and Fwd P/E is 16.13. Distance from 52-week low is 14.29% and -39.76% 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”. 42 analysts offering their recommendations for the stock have an average rating of 4.70, where 16 rate it as a Hold and 5 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 9 analysts have rated the stock as a Sell or Underperform.
Wipro Limited is expected to release its quarterly report on 04/27/2023.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 1.48B with Short Float at 0.88%.
Wipro Limited (WIT): Who are the competitors?
The company’s main competitors (and peers) include Accenture plc (ACN) that is trading -18.41% down over the past 12 months and HP Inc. (HPQ) that is -23.74% lower over the same period. International Business Machines Corporation (IBM) is 7.31% up on the 1-year trading charts.