Valued at a market cap of $109.7 billion, Seagate Technology Holdings plc (STX) provides data storage technology and infrastructure solutions. The Singapore-based company focuses on designing and manufacturing hard disk drives (HDDs) for both enterprise and consumer markets. It is expected to announce its fiscal Q3 earnings for 2026 in the near future.
Ahead of this event, analysts expect this tech company to report a profit of $3.25 per share, up 94.6% from $1.67 per share in the year-ago quarter. The company has topped Wall Street’s bottom-line estimates in each of the last four quarters. In Q2, STX’s EPS of $2.90 outpaced the consensus expectations by 10.7%.
For the current fiscal year, ending in June, analysts expect STX to report a profit of $12.11 per share, up 66.8% from $7.26 per share in fiscal 2025. Furthermore, its EPS is expected to grow 55.7% year-over-year to $18.86 in fiscal 2027.
STX has skyrocketed 609.2% over the past 52 weeks, significantly outpacing both the S&P 500 Index's ($SPX) 29.4% return and the State Street Technology Select Sector SPDR ETF’s (XLK) 42.9% uptick over the same time period.
On Apr. 6, shares of STX rose 5.6% after Morgan Stanley named the stock a “Top Pick” and raised its price target to $582 from $468, while maintaining an Overweight rating. The firm cited stronger demand from large-scale data centers and potential HDD supply shortages through 2028, which could enhance Seagate’s pricing power over the next few years.
Wall Street analysts are highly optimistic about STX’s stock, with a "Strong Buy" rating overall. Among 25 analysts covering the stock, 19 recommend "Strong Buy," one indicates a “Moderate Buy,” and five suggest "Hold." While the company is trading above its mean price target of $483.96, its Street-high price target of $700 suggests a 40.3% potential upside from the current levels.
On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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