TipRanks reports that Bernstein analyst Mark Newman maintained a 'buy' rating on Western Data (Western Digital) on Thursday, setting a target price of $770.00. The company's stock closed at $415.29 on Thursday.
Newman mainly covers the technology sector, with a focus on stocks such as Apple, Dell Technologies, and Sunny Optical Technology (Group). According to TipRanks data, the average return rate of Newman is 97.4%, and the success rate of recommended stocks is 77.78%.
Western Digital currently has a unanimous rating of 'Strong Buy' from analysts, with a consensus target price of $664.47.
According to Western Digital's latest financial report for the quarter ending July 3, the company's revenue for that period was $3.75 billion, with a net profit of $3.2 billion. In contrast, during the same period last year, the company's revenue was $2.61 billion, and the net profit was $257 million.
Based on the trading activities of 119 insiders in recent times, their sentiment towards this stock is relatively negative. This indicates that, in the past quarter, there has been an increase in the number of insiders selling WDC shares compared to earlier this year.
Last month, WDC, the global operations director Vidyadhara K Gubbi, sold 1,795 shares for a total transaction amount of $825,466.65.
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