On March 5, 2024, analyst Linda Bolton Weiser from DA Davidson reiterated her positive outlook on WD-40 (NASDAQ: WDFC), maintaining a Buy rating and a price target of $313. Amid discussions surrounding the company’s growth targets, DA Davidson has raised questions about the feasibility of WD-40 Co’s ambitious sales projections. Despite concerns about negative free cash flow, WD-40 has shown strong stock performance, with a 12% increase in price since the last quarterly report and a 44.5% surge over the year, outperforming the S&P 500. Looking ahead, Linda Bolton Weiser remains optimistic about WD-40’s potential, highlighting a Strong Buy or Buy rating from top analysts and forecasting an EPS of $5.88 for the upcoming year.
WD-40 Company (WDFC) Stock Price Drops Slightly on March 5, 2024, But Remains Bullish
On March 5, 2024, WD-40 Company (WDFC) experienced a slight drop in its stock price, closing at $266.09. This represents a decrease of $2.20, or 0.82%, from the previous market close. Despite this decline, WDFC is still trading near the top of its 52-week range and above its 200-day simple moving average. This suggests that investors have been bullish on the stock in recent months. Additionally, the fact that WDFC is trading above its 200-day simple moving average is another positive sign for the stock. Despite the slight drop in price on March 5, WDFC has remained relatively stable in after-hours trading, suggesting that investors may not be overly concerned about the price decline and are still confident in the company’s long-term prospects. Overall, WDFC’s performance on March 5, 2024, reflects a stock that is still in a strong position, trading near its highs and showing signs of bullish momentum. Investors will likely continue to monitor the stock closely to see if it can maintain its upward trajectory in the coming days and weeks.
WD-40 Company Reports Mixed Financial Performance for Past Year and Q1 2024
On March 5, 2024, WD-40 Company (WDFC) reported its financial performance for the past year and the first quarter of the current fiscal year. According to data from CNN Money, the company’s total revenue for the past year was $537.25 million, which represents a 3.55% increase compared to the previous year. However, the total revenue for the first quarter of the current fiscal year was $140.42 million, which remained flat compared to the previous quarter.
In terms of net income, WD-40 Company reported a net income of $65.72 million for the past year, which remained flat compared to the previous year. However, the net income for the first quarter of the current fiscal year was $17.42 million, representing a 5.49% increase compared to the previous quarter.
Earnings per share (EPS) for WD-40 Company were reported at $4.83 for the past year, which remained flat compared to the previous year. However, the EPS for the first quarter of the current fiscal year was $1.28, reflecting a 5.59% increase compared to the previous quarter.
Overall, WD-40 Company’s financial performance on March 5, 2024, showed a mixed result. While the total revenue and net income remained relatively stable, there was a slight increase in EPS for the first quarter of the current fiscal year. Investors and analysts will be closely monitoring the company’s performance in the coming quarters.
