Argus Research Cuts Western Digital (WDC) Price Target to $500

By TradeTexts Research Desk Oct 26, 2026, 11:15 AM EDT

Key Points

Argus Research reduced its price target on Western Digital from $600 to $500, maintaining a Buy rating, as of October 26, 2026.
Argus Research's $500 price target implies 41.24% upside from Western Digital Corporation's ($WDC) current $354 share price.
As of October 26, 2026, Western Digital shares recently traded around $354.00, about equal to the closing price of $353.38 on the same day.
The consensus price target for Western Digital is now $610.04, with 24 analysts covering the stock.

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On October 26, 2026, Argus Research lowered its price target on Western Digital Corporation (WDC) from $600 to $500 while maintaining a Buy rating. This decision comes as the company continues to navigate challenges in the data storage market. The information was sourced from Argus Research's report on the same date.

WDC Western Digital Corporation

$343.67 +83.29% year to date

Daily close · Oct 23, 2026

Analyst rating track record

Argus Research vs. the S&P 500

YTD return +4.94% hypothetical

All-time return +4.94% S&P 500 +0.45%

vs. S&P 500 +4.49% ahead of the index

Hypothetical returns from Argus Research's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in Western Digital

Several other institutional investors have made changes to their positions in Western Digital recently. RMR Wealth Builders increased its stake by 2,550 shares, bringing its total to 9,160 shares valued at about $4.16 million. In contrast, Amanah Holdings Trust sold its entire position, reducing its holdings by 315,000 shares. Abc Arbitrage opened a new stake with 10,292 shares worth approximately $4.68 million, while Beese Fulmer Investment Management cut its position by 1,352 shares, now holding 1,253 shares valued at about $569,438.

Western Digital Corporation Stock Down 0.1%

As of October 26, 2026, Western Digital shares recently traded around $354.00, which is about equal to the closing price of $353.38 on the same day. However, the stock is trading significantly below its 50-day moving average of $433.00 and its 200-day moving average of $414.65. Furthermore, it is about 55.7% below its 52-week high of $799.87.

12-month forecast

$WDC price target

Western Digital Corporation daily closes and this analyst's $500 target. Not advice.

Recent Earnings

Western Digital reported trailing twelve-month revenue of approximately $14.48 billion, with a year-over-year revenue growth of 55.5%. The company has an EPS of $28.43 and a net margin of 69.2%. Its next earnings report is expected on February 4, 2027.

Analysts Set New Price Targets

On October 23, 2026, several firms maintained their ratings on Western Digital. UBS kept a Neutral rating with a target of $435.00, Citigroup maintained a Buy rating with a target of $660.00, and JP Morgan upgraded its rating to Overweight with a target of $650.00. TD Cowen also maintained a Buy rating with a target of $430.00. The current consensus among analysts is a Buy rating with a mean price target of $610.04.

About Western Digital

Western Digital Corporation develops and sells data storage devices and solutions. Its products include hard disk drives and external drives for various markets, including personal and enterprise solutions. The company's performance is closely tied to the demand for data storage solutions, which remains robust despite market fluctuations.

Bottom Line

Investors should keep an eye on Western Digital's upcoming earnings report on February 4, 2027, as well as any further updates from analysts and institutional investors. The recent price target adjustments reflect ongoing evaluations of the company's market position and performance.