Cantor Fitzgerald Reaffirms Buy Rating on Western Digital
Cantor Fitzgerald maintains its buy rating on Western Digital with a $900 price target, a 40.39% upside from the current price.
Key Points
- Cantor Fitzgerald reiterated its buy rating on Western Digital Corporation (NasdaqGS:WDC) with a price target of $900 on June 29, 2026.
- Cantor Fitzgerald's $900 price target implies 40.39% upside from Western Digital Corporation's ($WDC) current $641.06 share price.
- Shares of Western Digital traded near $586.45 on Monday, with a market cap of about $202.1 billion and a P/E ratio of 35.1.
- Analyst consensus remains positive, with a mean target price of $554.13 and 23 analysts recommending a buy.
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Cantor Fitzgerald reiterated its buy rating on Western Digital Corporation (NasdaqGS:WDC) and set a price target of $900 on June 29, 2026. This affirmation from analyst C.J. Muse suggests confidence in the company's performance. Shares of Western Digital traded near $586.45 on Monday.
Cantor Fitzgerald vs. the S&P 500
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Western Digital Corporation Stock Up 39.5%
Shares of NasdaqGS:WDC traded near $586.45 on Monday. Western Digital has a market capitalization of approximately $202.1 billion and a P/E ratio of 35.1. Its beta is 2.2, indicating higher volatility compared to the market. The stock's 52-week range has been between $62.94 and $799.87, with a 50-day moving average of $510.91 and a 200-day moving average of $280.37. The company maintains a current ratio of 1.49 and a quick ratio of 1.107, with a debt-to-equity ratio of 17.81.
$WDC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Western Digital reported revenue of $11.78 billion, with a revenue growth rate of 45.5%. The company's earnings per share (EPS) stood at $16.71, with a net margin of 55.3% and a return on equity (ROE) of 85.9%. The next earnings report is expected on July 29, 2026.
Dividend
Western Digital offers an annual dividend rate of $0.60, yielding 0.1% with a payout ratio of 2.7%.
Insider Buying and Selling at Western Digital Corporation
On June 20, 2026, several insiders at Western Digital made transactions. CEO Tan Irving sold 1,090 shares at an average price of $746.23. Chief Sales & Marketing Officer Brian Scott Davis also sold 961 shares at the same price. Both executives also recorded minor buys without disclosed values on the same day.
Analysts Set New Price Targets
On June 29, 2026, Cantor Fitzgerald maintained its buy rating for Western Digital with a $900 price target. Other firms have also shown confidence in the company. Morgan Stanley and JP Morgan both maintained their buy ratings with price targets of $650 earlier in June. Mizuho and Citigroup set their targets at $685, while Wells Fargo and Evercore ISI Group both targeted $575. Barclays gave a target of $620. The consensus among 23 analysts remains a buy with a mean target price of $554.13.
About Western Digital
Western Digital Corporation, headquartered in San Jose, California, is a leading developer and manufacturer of data storage devices and solutions. The company specializes in hard disk drive (HDD) technology and offers a wide range of products including internal and external HDDs, data center drives, and NAS systems. With approximately 40,000 employees worldwide, Western Digital serves markets across the United States, Asia, Europe, the Middle East, and Africa. The company is led by CEO Mr. Tiang Yew Tan.
Bottom Line
Cantor Fitzgerald's reaffirmation of its buy rating on Western Digital with a $900 target underscores continued confidence in the company's prospects. Investors pay close attention to such ratings, as they can influence market sentiment. However, it's important to remember that these ratings are based on past data and future expectations, which can change.
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