JP Morgan Reiterates 'Sell' Rating on Wipro Limited
JP Morgan maintains its 'sell' rating on Wipro Limited, setting a $1.70 price target, a 25.11% downside from the current price.
Key Points
- JP Morgan reiterated its 'sell' rating on Wipro Limited (NYSE:WIT) with a price target of $1.70 on June 24, 2026.
- JP Morgan's $1.70 price target implies 25.11% downside from Wipro Limited's ($WIT) current $2.27 share price.
- Wipro has a market cap of $22.98 billion and traded near $2.19 on Friday, with a P/E ratio of 16.8.
- Insider selling included Wipro's CEO and CFO, while institutional activity showed mixed adjustments in holdings.
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JP Morgan has reiterated its 'sell' rating on Wipro Limited (NYSE:WIT), setting a price target of $1.70. This update, provided by analyst Ankur Rudra on June 24, 2026, continues the firm's cautious stance on the stock.
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Wipro Limited Stock Up 24.7%
Shares of NYSE:WIT traded near $2.19 on Friday. Wipro Limited, a major player in the technology sector, boasts a market cap of approximately $22.98 billion. The stock has a P/E ratio of 16.8, reflecting its earnings performance relative to its share price. With a beta of 0.357, the stock is less volatile than the broader market. Over the past year, Wipro's stock ranged between $1.80 and $3.13, with moving averages of $2.11 for 50 days and $2.46 for 200 days.
$WIT price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Wipro reported a revenue of approximately $926.24 billion, experiencing a growth of 7.7%. The company's net margin stands at 14.25%, with a return on equity of 15.44%. The earnings per share (EPS) is $0.13. Investors can look forward to the next earnings announcement on April 16, 2026.
Insider Buying and Selling at Wipro Limited
There has been notable insider activity at Wipro. On May 19, 2026, CFO Aparna Chandrasekhar Iyer sold 45,000 shares at an average price of $2.00. CEO Srinivas Pallia was active as well, selling 203,150 shares at $1.82 on May 14, 2026, while also purchasing 351,034 shares at $0.03 on May 13, 2026.
Analysts Set New Price Targets
On June 24, 2026, JP Morgan maintained its 'sell' rating on Wipro Limited with a price target of $1.70. The current consensus among analysts is an 'underperform' rating, with a mean price target of $2.02 based on seven opinions.
About Wipro Limited
Wipro Limited is a global leader in information technology, consulting, and business process services, headquartered in Bengaluru, India. The company offers a wide range of services including AI-powered IT solutions, digital strategy, and technology consulting. Under the leadership of CEO Srinivas Pallia, Wipro employs around 240,000 people worldwide.
Bottom Line
JP Morgan's reiterated 'sell' rating suggests continued caution for Wipro Limited. Investors often track these analyst opinions for insights into potential stock movements. However, it's important to remember that analyst ratings are just one piece of the investment puzzle.
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