UBS Remains a Hold on Wipro Limited (WIPRO)

UBS analyst Aditya Chandrasekar maintained a Hold rating on Wipro Limited yesterday and set a price target of INR275.00. The company’s shares closed yesterday at INR235.75.

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According to TipRanks, Chandrasekar is a 2-star analyst with an average return of 13.6% and a 100.00% success rate. Chandrasekar covers the Technology sector, focusing on stocks such as LTIMindtree Limited, Mphasis Limited, and Persistent Systems Limited.

In addition to UBS, Wipro Limited also received a Hold from Investec’s Nitin Padmanabhan in a report issued yesterday. However, on the same day, CLSA maintained a Buy rating on Wipro Limited (NSE: WIPRO).

Based on Wipro Limited’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of INR221.35 billion and a net profit of INR33.3 billion. In comparison, last year the company earned a revenue of INR219.64 billion and had a net profit of INR30.03 billion

Based on the recent corporate insider activity of 387 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WIPRO in relation to earlier this year.