Wipro Limited (NYSE:WIT) fell 1.6% on Friday . The stock traded as low as $10.29 and last traded at $10.31, with a volume of 398,387 shares trading hands. The stock had previously closed at $10.48.

Several research firms have weighed in on WIT. Zacks Investment Research upgraded shares of Wipro Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, June 22nd. HSBC cut shares of Wipro Limited from a “hold” rating to a “reduce” rating in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.50.

The stock’s 50-day moving average is $11.43 and its 200 day moving average is $11.88. The firm has a market cap of $25.42 billion and a P/E ratio of 19.45.

Wipro Limited (NYSE:WIT) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.02 billion. On average, equities research analysts expect that Wipro Limited will post $0.55 earnings per share for the current fiscal year.

Wipro Limited (Wipro) is a global information technology (IT) services provider. The Company operates through two segments: IT Services and IT Products. The Company’s IT Services business provides a range of IT and IT-enabled services, which include IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, global infrastructure services, business process services, research and development and hardware and software design to the enterprises worldwide.

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