Western Digital Corp. Given “Strong-Buy” Rating at Needham & Company (WDC)
Western Digital Corp. (NYSE:WDC)‘s stock had its “strong-buy” rating reiterated by equities researchers at Needham & Company in a research report issued on Tuesday, Stock Ratings Network reports. They currently have a $81.00 target price on the stock, up from their previous target price of $77.00. Needham & Company’s target price would suggest a potential upside of 12.02% from the company’s current price.
Shares of Western Digital Corp. (NYSE:WDC) opened at 72.31 on Tuesday. Western Digital Corp. has a one year low of $32.25 and a one year high of $72.35. The stock’s 50-day moving average is $65.49 and its 200-day moving average is $62.51. The company has a market cap of $17.137 billion and a price-to-earnings ratio of 18.17.
Western Digital Corp. (NYSE:WDC) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.15. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. The company’s revenue for the quarter was down 21.6% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated a “buy” rating on shares of Western Digital Corp. in a research note to investors on Monday. They now have a $72.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Western Digital Corp. in a research note to investors on Monday. They now have a $78.00 price target on the stock. Finally, analysts at BMO Capital Markets reiterated a “buy” rating on shares of Western Digital Corp. in a research note to investors on Monday. They now have a $78.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $72.92.
Western Digital Corporation (NYSE:WDC) is a provider of solutions for the collection, storage, management, protection and use of digital content, including audio and video.
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