10 analysts have expressed a variety of opinions on Western Digital WDC over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 3 | 3 | 4 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 0 | 2 | 0 | 0 |
| 3M Ago | 1 | 3 | 2 | 0 | 0 |
In the assessment of 12-month price targets, analysts unveil insights for Western Digital, presenting an average target of $51.6, a high estimate of $65.00, and a low estimate of $42.00. This upward trend is apparent, with the current average reflecting a 22.45% increase from the previous average price target of $42.14.
Deciphering Analyst Ratings: An In-Depth Analysis
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 |
|---|---|---|---|---|---|
| Sidney Ho | Deutsche Bank | Raises | Buy | $65.00 | $45.00 |
| Vijay Rakesh | Mizuho | Raises | Buy | $55.00 | $52.00 |
| Toshiya Hari | Goldman Sachs | Raises | Neutral | $48.00 | $31.00 |
| Toshiya Hari | Goldman Sachs | Announces | Neutral | $48.00 | - |
| Srini Pajjuri | Raymond James | Raises | Outperform | $48.00 | $46.00 |
| Vijay Rakesh | Mizuho | Raises | Buy | $52.00 | $45.00 |
| Medhi Hosseini | Susquehanna | Raises | Neutral | $46.00 | $38.00 |
| Steven Fox | Fox Advisors | Announces | Overweight | $52.00 | - |
| Kevin Cassidy | Rosenblatt | Raises | Neutral | $42.00 | $38.00 |
| Matt Bryson | Wedbush | Maintains | Outperform | $60.00 | - |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Western Digital. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Western Digital compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Western Digital's stock. This comparison reveals trends in analysts' expectations over time.
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Western Digital's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
Stay up to date on Western Digital analyst ratings.
Unveiling the Story Behind Western Digital
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.
Western Digital's Financial Performance
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Western Digital's revenue growth over 3 months faced difficulties. As of 30 September, 2023, the company experienced a decline of approximately -26.39%. This indicates a decrease in top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Western Digital's net margin excels beyond industry benchmarks, reaching -25.45%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Western Digital's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -6.68%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Western Digital's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of -2.89%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Western Digital's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.76, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
Understanding the Relevance of Analyst Ratings
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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