Seagate's Stock Soars: What's Driving the Surge?
Seagate Technology, a titan in the data storage industry, crafts a wide range of products from hard drives to SSDs. With a market valuation of $60.5 billion, it stands as a pivotal entity in both personal and enterprise technology sectors.
A Stock on a Roll
Over the past year, Seagate's stock has experienced a wild ride, surging by 173.7%, significantly outpacing the S&P 500's 13.8% gain. Even more remarkable, it has climbed 211.6% so far this year, compared to the S&P 500's 15.8% and the tech sector's 23.6% return.
Earnings Boost
The stock received a substantial lift on October 29th, when Seagate announced robust earnings for the first quarter of 2026. The company reported:
- Earnings per share (EPS): $2.61
- Revenue: $2.63 billion
These figures surpassed expectations, and the company projected even stronger results for the forthcoming quarter.
Analyst Sentiment
Analysts are bullish on Seagate, anticipating a near 39% surge in earnings this year. The company has a proven history of exceeding estimates.
Rating Overview
- Total Analysts: 23
- "Strong Buy" Ratings: 17 (up from 14 three months ago)
TD Cowen recently raised their price target to $340, maintaining a "Buy" rating.
Price Targets
- Average Price Target: $288.10 (approximately 5.8% higher than the current price)
- Highest Price Target: $465 (suggesting a potential 70.7% upside)
