Wipro (WIT) Stock Forecast & Price Target

$6.69

+0.34 (+5.35%)

(As of 10/18/2024 ET)

Wipro - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 5 Analyst Ratings

Sell
3

Hold
0

Buy
2

Based on 5 Wall Street analysts who have issued ratings for Wipro in the last 12 months, the stock has a consensus rating of "Hold." Out of the 5 analysts, 3 have given a sell rating, 1 has given a buy rating, and 1 has given a strong buy rating for WIT.

Consensus Price Target

$5.60
-16.29% Downside

According to the 5 analysts' twelve-month price targets for Wipro, the average price target is $5.60. The highest price target for WIT is $6.00, while the lowest price target for WIT is $5.20. The average price target represents a forecasted downside of -16.29% from the current price of $6.69.

WIT Analyst Ratings Over Time

Type	Current Forecast 10/21/23 to 10/20/24	1 Month Ago 9/21/23 to 9/20/24	3 Months Ago 7/23/23 to 7/22/24	1 Year Ago 10/21/22 to 10/21/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	1 Buy rating(s)	1 Buy rating(s)	1 Buy rating(s)	0 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)
Sell	3 Sell rating(s)	2 Sell rating(s)	3 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$5.60	$5.60	$5.30	$4.30
Forecasted Upside	-16.29% Downside	-13.31% Downside	-11.59% Downside	-6.72% Downside
Consensus Rating	Hold	Hold	Hold	Strong Sell

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WIT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

WIT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Wipro Stock vs. The Competition

Type	Wipro	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.00	2.67	2.50
Consensus Rating	Hold	Moderate Buy	Hold
Predicted Upside	-16.29% Downside	1,279.80% Upside	6.19% Upside
News Sentiment Rating	Neutral News See Recent WIT News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/3/2024	Investec 4 of 5 stars		Downgrade	Hold ➝ Sell
7/2/2024	Nomura Securities 5 of 5 stars	A. Bhandari Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
1/17/2024	BNP Paribas 3 of 5 stars		Initiated Coverage	Underperform	$5.20	-9.88%
1/16/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Underperform ➝ Underperform	$4.00 ➝ $6.00	-4.46%
8/22/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Sell	$4.70	-5.62%
5/23/2023	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Underweight	$4.30	-8.90%
3/22/2023	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Market Perform ➝ Underperform	$5.10 ➝ $3.90	-12.75%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 09:40 PM ET.

Should I Buy Wipro Stock? WIT Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, October 11, 2024. Please send any questions or comments about these Wipro pros and cons to contact@marketbeat.com.

Wipro
Bull Case

Here are some ways that investors could benefit from investing in Wipro Limited:

Wipro Limited's recent positive earnings report, meeting the consensus estimate, indicates financial stability and potential growth.
Wipro Limited's stock price has been showing an upward trend, reaching $6.59 on Tuesday, which may signal positive investor sentiment and potential for capital appreciation.
Analyst upgrades, such as the recent "buy" and "strong-buy" ratings, suggest confidence in Wipro Limited's future performance and growth prospects.
Wipro Limited's market capitalization of $34.37 billion reflects the company's size and stability in the market, providing a sense of security for investors.
Wipro Limited's consistent focus on innovation and technology services positions it well to capitalize on the growing demand for digital transformation solutions in various industries.

Wipro
Bear Case

Investors should be bearish about investing in Wipro Limited for these reasons:

Wipro Limited's P/E ratio of 26.12 and P/E/G ratio of 4.41 may indicate that the stock is currently overvalued, potentially limiting short-term gains for investors.
Wipro Limited's recent decrease in institutional holdings, as seen with Rhumbline Advisers selling shares, could raise concerns about the company's growth prospects among some investors.
Despite positive analyst ratings, the presence of sell ratings on Wipro Limited's stock may suggest underlying challenges or uncertainties in the company's future performance.
Wipro Limited's beta of 0.90 indicates that the stock's price is less volatile compared to the market, which may limit potential returns for investors seeking higher-risk investments.
Wipro Limited's debt-to-equity ratio of 0.08 may raise concerns about the company's financial leverage and ability to manage debt obligations effectively in the future.

WIT Forecast - Frequently Asked Questions

: According to the research reports of 5 Wall Street equities research analysts, the average twelve-month stock price forecast for Wipro is $5.60, with a high forecast of $6.00 and a low forecast of $5.20.
: 5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Wipro in the last twelve months. There are currently 3 sell ratings, 1 buy rating and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" WIT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in WIT, but not buy additional shares or sell existing shares.
: According to analysts, Wipro's stock has a predicted downside of -16.29% based on their 12-month stock forecasts.
: Over the previous 90 days, Wipro's stock had 1 downgrade by analysts.
: Wipro has been rated by research analysts at Investec in the past 90 days.
: Analysts like Wipro less than other "computer and technology" companies. The consensus rating for Wipro is Hold while the average consensus rating for "computer and technology" companies is Moderate Buy. Learn more on how WIT compares to other companies.

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This page (NYSE:WIT) was last updated on 10/20/2024 by MarketBeat.com Staff

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