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Why Wipro (WIT) Stock Might be a Great Pick

Zacks Equity Research

One stock that might be an intriguing choice for investors right now is Wipro Ltd. (WIT). This is because this security in the business software services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the business software services space as it currently has a Zacks Industry Rank of 53 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Wipro is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past month, there has been 1 upward revision for the current quarter though consensus estimate trend remained flat. There were 5 upward revisions over the past month for the current year estimates and consensus estimate improved from 49 cents per share to 50 cents per share. This has helped WIT to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position.

So, if you are looking for a decent pick in a strong industry, consider Wipro. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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