Western Digital Corp. [WDC] stock prices are up 0.89% to $71.06 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The WDC shares have lost -2.19% over the last week, with a monthly amount glided 18.85%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Western Digital Corp. [NASDAQ: WDC] stock has seen the most recent analyst activity on April 05, 2024, when Rosenblatt upgraded its rating to a Buy and also boosted its price target to $115 from $65. Previously, Evercore ISI started tracking the stock with Outperform rating on March 27, 2024, and set its price target to $80. On January 26, 2024, TD Cowen reiterated its Outperform rating and revised its price target to $75 on the stock. Cantor Fitzgerald started tracking the stock assigning a Overweight rating and suggested a price target of $70 on January 23, 2024. Morgan Stanley reiterated its recommendation of a Overweight and raised its price target to $73 on January 22, 2024. Deutsche Bank upgraded its rating to Buy for this stock on January 16, 2024, and upped its price target to $65. In a note dated January 16, 2024, Barclays upgraded an Overweight rating on this stock and boosted its target price from $45 to $65.
The stock price of Western Digital Corp. [WDC] has been fluctuating between $31.97 and $76.92 over the past year. Currently, Wall Street analysts expect the stock to reach $75.44 within the next 12 months. Western Digital Corp. [NASDAQ: WDC] shares were valued at $71.06 at the most recent close of the market. An investor can expect a potential return of 6.16% based on the average WDC price forecast.
Analyzing the WDC fundamentals
The Western Digital Corp. [NASDAQ:WDC] reported sales of 11.26B for trailing twelve months, representing a drop of -2.41%. Gross Profit Margin for this corporation currently stands at 0.09% with Operating Profit Margin at -0.17%, Pretax Profit Margin comes in at -0.2%, and Net Profit Margin reading is -0.2%. To continue investigating profitability, this company’s Return on Assets is posted at -0.09, Equity is -0.21 and Total Capital is -0.1. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.77.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 69.75 points at the first support level, and at 68.44 for the second support level. However, for the 1st resistance point, the stock is sitting at 71.81, and for the 2nd resistance point, it is at 72.56.
Ratios To Look Out For
It’s worth pointing out that Western Digital Corp. [NASDAQ:WDC]’s Current Ratio is 1.67. On the other hand, the Quick Ratio is 0.98, and the Cash Ratio is 0.53. Considering the valuation of this stock, the price to sales ratio is 2.06, the price to book ratio is 2.30.
Transactions by insiders
Recent insider trading involved Zamiska Gene M., SVP & Princ. Acctg Officer, that happened on Apr 08 ’24 when 443.0 shares were sold. Director, Alexy Kimberly completed a deal on Apr 01 ’24 to sell 2648.0 shares. Meanwhile, SVP & Princ. Acctg Officer Zamiska Gene M. sold 10768.0 shares on Mar 01 ’24.
