Seagate Technology's stock rose by 5.01% as it crossed above the 5-day SMA, reflecting positive investor sentiment following its strong earnings forecast.
The company reported a 21% year-over-year revenue increase to $2.63 billion for Q1 of fiscal 2026, driven by robust demand for data center storage products, particularly from AI applications. Management indicated that production capacity for 2026 is nearly sold out, highlighting the strong market demand and the company's leadership in this sector. Analysts project earnings per share to reach $15.15, suggesting a potential stock price increase of 48% from current levels, showcasing strong investment return potential.
This optimistic outlook is likely to attract more investors, as the anticipated growth in AI-driven demand positions Seagate favorably in the expanding data storage market.
Wall Street analysts forecast STX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for STX is 310.39 USD with a low forecast of 150.00 USD and a high forecast of 465.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
Wall Street analysts forecast STX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for STX is 310.39 USD with a low forecast of 150.00 USD and a high forecast of 465.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Buy
3 Hold
1 Sell
Moderate Buy
Current: 446.570
Low
150.00
Averages
310.39
High
465.00
Current: 446.570
Low
150.00
Averages
310.39
High
465.00
Bernstein
Outperform
maintain
$370 -> $500
2026-01-29
New
Reason
Bernstein
Price Target
$370 -> $500
AI Analysis
2026-01-29
New
maintain
Outperform
Reason
Bernstein raised the firm's price target on Seagate to $500 from $370 and keeps an Outperform rating on the shares. The firm notes Seagate delivered a strong Q2 with broad-based beats in revenue, margins and adjusted EPS. Guidance for Q3 was considerably higher than Bernstein's and the Street's as strong pricing and HAMR execution set to continue. Demand remains strong, supply remains disciplined with pricing better than expected, but the firm says to not expect NAND like ASP jumps anytime soon.
Baird
Tristan Gerra
Outperform
upgrade
$270 -> $505
2026-01-29
New
Reason
Baird
Tristan Gerra
Price Target
$270 -> $505
2026-01-29
New
upgrade
Outperform
Reason
Baird analyst Tristan Gerra raised the firm's price target on Seagate to $505 from $270 and keeps an Outperform rating on the shares. The firm updated its model following Q4 results and strong visibility ahead.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for STX
Unlock Now
Cantor Fitzgerald
C.J. Muse
Overweight
maintain
$400 -> $500
2026-01-28
New
Reason
Cantor Fitzgerald
C.J. Muse
Price Target
$400 -> $500
2026-01-28
New
maintain
Overweight
Reason
Cantor Fitzgerald analyst C.J. Muse raised the firm's price target on Seagate to $500 from $400 and keeps an Overweight rating on the shares. Seagate delivered a strong beat and raise driven by sharply higher gross margins, reflecting tight HDD supply, favorable pricing, and ongoing cost reductions that are accelerating margin expansion, the analyst tells investors in a research note. The improving pricing environment and rising margins underpin a rapidly strengthening free cash flow outlook, supporting debt reduction, dividend growth, and increased share repurchases, Cantor says.
UBS
Timothy Arcuri
Neutral
maintain
$335 -> $385
2026-01-28
New
Reason
UBS
Timothy Arcuri
Price Target
$335 -> $385
2026-01-28
New
maintain
Neutral
Reason
UBS analyst Timothy Arcuri raised the firm's price target on Seagate to $385 from $335 and keeps a Neutral rating on the shares. Seagate is executing strongly with rising gross margins, disciplined order intake within lead times, and growing customer alignment, while the HAMR rollout gains momentum after qualifying major U.S. hyperscalers, the analyst tells investors in a research note. Despite upward EPS revisions reflecting better fundamentals, valuation appears stretched as the stock discounts a prolonged industry upcycle even as broader memory markets have seen limited multiple expansion, UBS says.
About STX
Seagate Technology Holdings plc provides mass-data storage infrastructure solution. The Company’s principal products are hard disk drives, commonly referred to as disk drives, hard drives (HDDs). In addition to HDDs, the Company produces a range of data storage products, including solid state drives (SSDs), solid state hybrid drives, storage subsystems, as well as a scalable edge-to-cloud mass data platform. Its HDD products are designed for mass capacity storage and legacy markets. Mass capacity storage involves use cases, such as hyperscale data centers and public clouds, as well as emerging use cases. The Company’s HDD and SSD product portfolio includes Serial Advanced Technology Attachment, Serial Attached SCSI and Non-Volatile Memory Express based designs to support a variety of mass capacity and legacy applications. Its systems portfolio includes storage subsystems for enterprises, cloud service providers, scale-out storage servers and original equipment manufacturers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
