Wipro shares rise over 2% as Q2 revenue grows 9% YoY. What are Nomura, Goldman Sachs analysts saying?
Wipro reported a 9.1% year-on-year rise in Q2FY27 revenue to Rs 24,752.7 crore, while net profit fell 1.9% to Rs 3,201 crore. The IT major expects Q3 revenue growth of -1.5% to 0.5% sequentially in constant currency terms. Nomura retained its Buy rating with a Rs 200 target, citing a slight revenue beat and confidence in delayed large deals closing.
IT giant Wipro shares surged over 2% to a high of Rs 178 on the BSE following its announcement of a 9.1% year-on-year increase in Q2FY27 gross revenue to Rs 24,752.7 crore, up 1.1% quarter-on-quarter. Net profit, however, fell 1.9% year-on-year to Rs 3,201 crore. Wipro now anticipates a third-quarter revenue growth range of -1.5% to 0.5% in constant currency terms.
Analysts have differing opinions on Wipro's stock. Nomura has raised its target price to Rs 200, maintaining a Buy rating, citing Q2's revenue beat and in-line margins. Goldman Sachs, on the other hand, retains a SELL rating despite Q2 exceeding expectations, pointing to a decline in deal wins and the uncertainty surrounding the appointment of an external CEO.
Emkay has kept its Reduce rating with a target price of Rs 170, suggesting a 2.3% downside from the closing price.
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