New Sell Rating for Wipro Limited (WIPRO), the Technology Giant

In a report released yesterday, Akshat Agarwal from Jefferies maintained a Sell rating on Wipro Limited, with a price target of INR180.00. The company’s shares closed today at INR205.95.

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According to TipRanks, Agarwal is an analyst with an average return of -2.9% and a 40.48% success rate. Agarwal covers the Technology sector, focusing on stocks such as Hexaware Technologies Limited, Infosys, and Wipro Limited.

Currently, the analyst consensus on Wipro Limited is a Moderate Sell with an average price target of INR236.00.

Based on Wipro Limited’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of INR235.56 billion and a net profit of INR31.19 billion. In comparison, last year the company earned a revenue of INR223.19 billion and had a net profit of INR33.54 billion

Based on the recent corporate insider activity of 392 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.