Analysts' ratings for Western Digital (NASDAQ:WDC) over the last quarter vary from bullish to bearish, as provided by 15 analysts.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 7 | 7 | 1 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 1 | 0 | 0 | 0 |
| 2M Ago | 3 | 1 | 1 | 0 | 0 |
| 3M Ago | 3 | 4 | 0 | 0 | 0 |
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $92.8, a high estimate of $115.00, and a low estimate of $85.00. Marking an increase of 9.07%, the current average surpasses the previous average price target of $85.08.
Analyzing Analyst Ratings: A Detailed Breakdown
The standing of Western Digital among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Matt Bryson | Wedbush | Raises | Outperform | $95.00 | $85.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $90.00 | $85.00 |
| Asiya Merchant | Citigroup | Raises | Buy | $95.00 | $90.00 |
| C J Muse | Cantor Fitzgerald | Maintains | Overweight | $100.00 | $100.00 |
| Medhi Hosseini | Susquehanna | Raises | Neutral | $88.00 | $80.00 |
| Kevin Cassidy | Rosenblatt | Maintains | Buy | $115.00 | $115.00 |
| Ananda Baruah | Loop Capital | Raises | Buy | $100.00 | $90.00 |
| Vijay Rakesh | Mizuho | Raises | Buy | $90.00 | $80.00 |
| Asiya Merchant | Citigroup | Announces | Buy | $90.00 | - |
| Jim Kelleher | Argus Research | Raises | Buy | $88.00 | $68.00 |
| Matt Bryson | Wedbush | Maintains | Outperform | $85.00 | $85.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $85.00 | $80.00 |
| Mark Miller | Benchmark | Announces | Buy | $85.00 | - |
| Joseph Moore | Morgan Stanley | Raises | Overweight | $86.00 | $83.00 |
| Tristan Gerra | Baird | Raises | Outperform | $100.00 | $65.00 |
Key Insights:
- Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Western Digital. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Western Digital compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Western Digital's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Western Digital's market standing. Stay informed and make data-driven decisions with our Ratings Table.
Stay up to date on Western Digital analyst ratings.
Discovering Western Digital: A Closer Look
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Breaking Down Western Digital's Financial Performance
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Positive Revenue Trend: Examining Western Digital's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 23.33% as of 31 March, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Western Digital's net margin excels beyond industry benchmarks, reaching 3.27%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Western Digital's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 1.12%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Western Digital's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.47% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Western Digital's debt-to-equity ratio surpasses industry norms, standing at 0.77. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Understanding the Relevance of Analyst Ratings
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.