Western Digital's Spike Prompts A Vetr Downgrade

On Tuesday, the Vetr crowd downgraded their rating for Western Digital Corp (NASDAQ: WDC) from 4.5 stars (Strong Buy) to 4 stars (Buy). Crowd sentiment for Western Digital is edging cautious, with 54 percent of Vetr user ratings bearish.

Price in Western Digital made a healthy three-point jump on Tuesday's market's open, spiking to $71.46 before dropping slightly to settle at $68.95.

Analyst outlook before this spike was generally positive. Goldman Sachs upgraded Western Digital from Sell to Neutral one week ago, while Deutsche Bank maintained its Buy rating near the beginning of December.

See how crowdsourced ratings could help you time the market.

Currently, the Vetr crowd's average target price for the stock is up at $74.95, which is above the average analyst target price of $72.52. Less than 2 percent of Vetr users are holding WDC in their watch lists.

See more from Benzinga

• Marvell Gets A Vetr Crowd Upgrade

• Vetr Urges Skechers Buy On Heels Of Strong Growth

• Buffering Your Budget: Saving For The Unexpected And Reevaluating Your Insurance Coverage

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.