These Analysts Revise Their Forecasts On Seagate After Q1 Results

Benzinga Earnings10-28 20:46

Seagate Technology Holdings Plc (NASDAQ:STX) posted upbeat first-quarter fiscal 2027 results after Tuesday’s closing bell.

Seagate reported quarterly earnings of $7.68 per share, which beat the consensus estimate of $7.42 by 3.5%, per Benzinga Pro data. Quarterly revenue clocked in at $4.23 billion, which beat the Street estimate of $4.14 billion and was up from $2.63 billion in the same period last year.

"Seagate delivered another quarter of record profitability and our highest ever free cash flow in the September quarter, demonstrating the earnings power of our business amid a strengthening demand environment," said CEO Dave Mosley.

Seagate expects second-quarter adjusted EPS between $9 and $9.40, versus the $8.58 analyst estimate, and revenue between $4.7 billion and $4.9 billion, versus the $4.53 billion estimate.

Seagate shares fell 2.3% to $652.50 in pre-market trading.

These analysts made changes to their price targets on Seagate following earnings announcement.

Morgan Stanley analyst Erik Woodring maintained the stock with an Overweight rating and lowered the price target from $1,200 to $1,148.
Susquehanna analyst Mehdi Hosseini maintained the stock with a Neutral and lowered the price target from $925 to $765.
Cantor Fitzgerald analyst C.J. Muse reiterated the stock with an Overweight rating and maintained a $1,000 price target.
Wedbush analyst Matt Bryson reiterated the stock with an Outperform rating and maintained a $1,000 price target.

Considering buying STX stock? Here’s what analysts think:

Photo via Shutterstock

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Muse reiterated the stock with an Overweight rating and maintained a $1,000 price target.</li>\n<li>Wedbush analyst Matt Bryson reiterated the stock with an Outperform rating and maintained a $1,000 price target.</li>\n</ul>\n<p><strong>Considering buying STX stock? 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Muse reiterated the stock with an Overweight rating and maintained a $1,000 price target.\nWedbush analyst Matt Bryson reiterated the stock with an Outperform rating and maintained a $1,000 price target.\n\nConsidering buying STX stock? Here’s what analysts think:\n\nPhoto via Shutterstock","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.0","shortVersion":"4.52.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2678984344","isCrawlerRequest":true}