These Analysts Revise Their Forecasts On Western Digital After Q1 Results-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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These Analysts Revise Their Forecasts On Western Digital After Q1 Results

Benzinga Earnings10-23 21:07

Western Digital Corp. (NASDAQ:WDC) on Thursday posted better-than-expected first-quarter fiscal 2027 results.

Western Digital reported quarterly earnings of $4.64 per share, which beat the consensus estimate of $4.07 by 14%, per Benzinga Pro data. Quarterly revenue clocked in at $4.38 billion, which beat the analyst consensus estimate of $4.13 billion and was up from $2.82 billion in the same period last year.

"Fiscal 2027 is off to a strong start, with results exceeding expectations, driven by robust customer demand and disciplined execution," said Irving Tan, CEO of Western Digital.

Western Digital expects second-quarter adjusted EPS of $5.60-$6.00, versus the $4.79 analyst estimate, and revenue between $5 billion and $5.2 billion, versus the $4.57 billion estimate.

Western Digital shares fell 1.9% to $347.50 in pre-market trading.

These analysts made changes to their price targets on Western Digital following earnings announcement.

Cantor Fitzgerald analyst C.J. Muse maintained the stock with an Overweight rating and lowered the price target from $900 to $625.
Morgan Stanley analyst Erik Woodring maintained the stock with an Overweight rating and raised the price target from $643 to $668.
Rosenblatt analyst Kevin Cassidy maintained the stock with a Buy and lowered the price target from $800 to $650.
TD Cowen analyst Krish Sankar maintained the stock with a Buy and cut the price target from $540 to $430.

Photo via Shutterstock

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