Western Digital Corp (NASDAQ:WDC) price on current trading day, rose 2.29% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $65.72.
A look at the stock’s price movement, the level at last check in today’s session was $64.25, moving within a range at $63.8 and $66.15. The beta value (5-Year monthly) was 1.394 while the PE ratio in trailing twelve months stood at 40.12. Turning to its 52-week performance, $81.55 and $51.75 were the 52-week high and 52-week low respectively. Overall, WDC moved 0.64% over the past month.
Western Digital Corp’s market cap currently stands at around $22.72 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 4.27B for the company’s revenue for the quarter, with a low and high estimate of 4.17B and 4.36B respectively. The average forecast suggests up to a 40.74% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 16.7B, representing a 28.42% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that WDC is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
19 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 16 recommend WDC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
WDC’s current price about 5.07% and -0.18% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.95, while 7-day volatility ratio is 2.81% and 3.03% in the 30-day chart. Further, Western Digital Corp (WDC) has a beta value of 1.43, and an average true range (ATR) of 2.12. Analysts have given the company’s stock an average 52-week price target of $85, forecast between a low of $82 and high of $85. Looking at the price targets, the low is -24.77% off recent price level in today’s trading while to achieve the yearly target high, it has to move -29.34%. Nonetheless, investors will most likely welcome a -29.34% jump to $85 which is the analysts’ median price.
If we refocus on Western Digital Corp (NASDAQ:WDC), historical trading data shows that trading volumes averaged 4.86 over the past 10 days and 5.36 million over the past 3 months. The company’s latest data on shares outstanding shows there are 346.00 million shares.
The 0.49% of Western Digital Corp’s shares are in the hands of company insiders while institutional holders own 94.97% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 20.6 million on 2024-12-31, giving us a short ratio of 3.93. The data shows that as of 2024-12-31 short interest in Western Digital Corp (WDC) stood at 673.0 of shares outstanding, with shares short falling to 21.74 million registered in 2024-11-29. Current price change has pushed the stock 10.21% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WDC stock continues to rise going into the next quarter.
