Seagate Technology (NASDAQ:STX) Price Target Raised to $1,250.00

Key Points

• Barclays raised Seagate’s price target to $1,250 from $1,000 and maintained an “overweight” rating, implying 47.35% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $986.
• Seagate reported quarterly EPS of $5.71, beating estimates of $5.10, while revenue rose 48.5% year over year to $3.63 billion. The company also issued strong fiscal Q1 2027 guidance of $7.10–$7.50 EPS, supported by sustained AI-related storage demand.
• Shares remain highly volatile and richly valued after a major run-up, trading at $848.31 with a market cap of about $190.2 billion and a P/E ratio of 60.99. Recent insider sales and a neutral rating from Susquehanna highlight execution and AI-spending risks.

Seagate Technology (NASDAQ:STX - Get Free Report) had its price target boosted by Barclays from $1,000.00 to $1,250.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the data storage provider's stock. Barclays's price target suggests a potential upside of 47.35% from the stock's previous close.

A number of other research analysts have also recently commented on STX. Wells Fargo & Company upped their price target on Seagate Technology from $1,100.00 to $1,180.00 and gave the company an "overweight" rating in a research report on Wednesday. Susquehanna lifted their price objective on Seagate Technology from $775.00 to $875.00 and gave the stock a "neutral" rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Seagate Technology from $385.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Seagate Technology from $1,095.00 to $1,240.00 and gave the company an "overweight" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $986.00.

Seagate Technology Stock Performance

Shares of NASDAQ:STX traded up $83.88 during mid-day trading on Thursday, reaching $848.31. The company had a trading volume of 2,964,188 shares, compared to its average volume of 4,372,999. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 3.16. The firm has a market cap of $190.22 billion, a price-to-earnings ratio of 60.99 and a beta of 2.04. The company's 50-day moving average price is $895.22 and its 200-day moving average price is $622.36. Seagate Technology has a one year low of $144.75 and a one year high of $1,145.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The data storage provider reported $5.71 EPS for the quarter, beating the consensus estimate of $5.10 by $0.61. Seagate Technology had a return on equity of 680.78% and a net margin of 26.11%.The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business earned $2.59 earnings per share. Seagate Technology's revenue for the quarter was up 48.5% on a year-over-year basis. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, equities research analysts anticipate that Seagate Technology will post 26.84 EPS for the current fiscal year.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 903 shares of Seagate Technology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $794,811.57. Following the completion of the transaction, the chief financial officer owned 42,860 shares of the company's stock, valued at $37,724,943.40. The trade was a 2.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Christopher Morris sold 1,364 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $880.19, for a total transaction of $1,200,579.16. Following the completion of the sale, the executive vice president directly owned 12,088 shares in the company, valued at approximately $10,639,736.72. The trade was a 10.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 151,069 shares of company stock valued at $126,191,753. 0.79% of the stock is owned by company insiders.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of STX. Bridgewater Advisors Inc. boosted its holdings in Seagate Technology by 0.9% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider's stock valued at $579,000 after purchasing an additional 13 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider's stock worth $31,000 after purchasing an additional 15 shares during the period. Beaumont Financial Advisors LLC increased its holdings in shares of Seagate Technology by 2.1% in the first quarter. Beaumont Financial Advisors LLC now owns 820 shares of the data storage provider's stock worth $321,000 after purchasing an additional 17 shares during the period. Cornerstone Wealth Group LLC raised its position in shares of Seagate Technology by 0.5% in the first quarter. Cornerstone Wealth Group LLC now owns 3,542 shares of the data storage provider's stock worth $1,388,000 after buying an additional 19 shares in the last quarter. Finally, WealthCollab LLC raised its position in shares of Seagate Technology by 27.4% in the first quarter. WealthCollab LLC now owns 93 shares of the data storage provider's stock worth $36,000 after buying an additional 20 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Key Seagate Technology News

Here are the key news stories impacting Seagate Technology this week:

• Positive Sentiment: Strong earnings beat and outlook: Seagate reported adjusted earnings of $5.71 per share versus the $5.10 consensus, while revenue increased 48.5% year over year to $3.63 billion. Fiscal first-quarter 2027 guidance of $4.0 billion-$4.2 billion in revenue and $7.10-$7.50 in EPS was well above Wall Street expectations, reinforcing confidence in near-term growth. Seagate fiscal fourth-quarter results
• Positive Sentiment: AI storage demand remains durable: Cloud providers and data centers are reserving Seagate’s mass-capacity hard drives to store AI training data, model outputs and other rapidly expanding workloads. Management highlighted record profitability, 34% fiscal-year revenue growth and $3.1 billion in free cash flow. Reuters AI-driven storage demand report
• Positive Sentiment: Technology cycle and analyst support: Progress with heat-assisted magnetic recording (HAMR) and the Mozaic platform could improve capacity and operating leverage without requiring equivalent manufacturing investment. Several firms raised targets, including JPMorgan to $1,240, Citi to $1,300, Rosenblatt to $1,400 and one bullish analyst to $1,624; Zacks also upgraded STX to “strong buy.” Seagate HAMR analysis
• Neutral Sentiment: Risks and expectations: The rally follows a major run-up, leaving valuation and execution expectations elevated. Although most analysts became more bullish, Susquehanna maintained a neutral rating with an $875 target, underscoring potential sensitivity to AI-spending momentum, supply conditions and any evidence of slowing pricing power.

Seagate Technology Company Profile

Seagate Technology NASDAQ: STX is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.

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