Western Digital Likely To Report Q1 Loss; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Western Digital Corporation WDC is expected to release financial results for its first quarter fiscal year 2024, before the opening bell on Oct. 30, 2023.

Analysts expect the company to post a quarterly loss at $1.91 per share, compared to year-ago earnings of 20 cents per share. The company’s revenue might come in at $2.65 billion, compared to $3.59 billion in the year-ago period.

According to a recent Nikkei Asia report, Western Digital ended talks with Kioxia regarding a potential merger after failing to secure approval from certain Kioxia shareholders.

Western Digital shares gained 1.9% to close at $38.97 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wedbush analyst Matt Bryson reiterated an Outperform rating with a price target of $60 on Oct. 26, 2023. This analyst has an accuracy rate of 78%.
• Rosenblatt analyst Kevin Cassidy reiterated a Neutral rating with a price target of $38 on Oct. 11, 2023. This analyst has an accuracy rate of 73%.
• JP Morgan analyst Harlan Sur maintained a Neutral rating and raised the price target from $40 to $45 on Aug. 2, 2023. This analyst has an accuracy rate of 76%.
• UBS analyst Timothy Arcuri maintained a Neutral rating and boosted the price target from $35 to $42 on July 26, 2023. This analyst has an accuracy rate of 76%.
• B of A Securities analyst Wamsi Mohan maintained a Buy rating and cut the price target from $50 to $41 on May 9, 2023. This analyst has an accuracy rate of 76%.

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