Western Digital Corp. (NASDAQ: WDC) Stock: More Upside Ahead?

In the last trading session, 4.44 million Western Digital Corp. (NASDAQ:WDC) shares changed hands as the company’s beta touched 1.53. With the company’s per share price at $71.06 changed hands at $0.63 or 0.89% during last session, the market valuation stood at $23.18B. WDC’s last price was a discount, traded about -8.25% off its 52-week high of $76.92. The share price had its 52-week low at $31.97, which suggests the last value was 55.01% up since then. When we look at Western Digital Corp.’s average trading volume, we note the 3-month average coming to 7.42 million.

Western Digital Corp. (NASDAQ:WDC) trade information

Instantly WDC was in green as seen at the end of in last trading. With action -2.19%, the performance over the past five days has been red. The jump to weekly highs of 74.18 added 0.89% to the stock’s daily price. The company’s shares are showing year-to-date upside of 35.69%, with the 5-day performance at -2.19% in the red. However, in the 30-day time frame, Western Digital Corp. (NASDAQ:WDC) is 18.85% up.

Western Digital Corp. (WDC) estimates and forecasts

Data shows that the Western Digital Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 55.49% over the past 6 months, a 59.89% in annual growth rate that is considerably higher than the industry average of 25.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Western Digital Corp. will rise 114.60%, while the growth in revenue is estimated to hit 140.90% for the next quarter. Year-over-year growth is forecast to reach 5.50% up from the last financial year.

Consensus estimates given by 19 financial analysts project the company’s revenue in the current quarter to hit an average of $3.41 billion. 19 analysts are of the opinion that Western Digital Corp.’s revenue for the quarter ending Jun 2024 will be $3.72 billion. The company’s revenue for the corresponding quarters a year ago was -$ and $2.67 billion respectively. The estimates for the next quarter sales put growth at 39.10%.

The 2024 estimates are for Western Digital Corp. earnings to increase by 60.28%.