Seagate Technology (STX) Gaining on Unprecedented AI-Driven Demand
Key takeaways
- Analysts expect the company to grow its EPS by roughly 70% over the next 5 years.
- Recently, on June 2, Citi raised the price target on Seagate Technology Holdings plc (NASDAQ:STX) from $740 to $1,150 and maintained a Buy rating on the shares.
- That said, Seagate Technologies topped Wall Street expectations during its fiscal Q3 2026 earnings release.
Seagate Technology (STX) Gaining on Unprecedented AI-Driven Demand Talha Qureshi Thu, June 11, 2026 at 12:14 AM GMT+7 2 min read STX Seagate Technology Holdings plc (NASDAQ:STX) has gained more than 550% over the past 12 months, driven by unprecedented AI-driven demand. Analysts expect the company to grow its EPS by roughly 70% over the next 5 years. The stock ranks among the Top 10 Unstoppable Growth Stocks to Invest In.
Recently, on June 2, Citi raised the price target on Seagate Technology Holdings plc (NASDAQ:STX) from $740 to $1,150 and maintained a Buy rating on the shares. The firm noted that they have raised the earnings estimates for the hard disk drive spaces due to resilient AI-driven demand and disciplined industry supply management. The firm believes that these factors are going to help the company maintain its pricing power.
That said, Seagate Technologies topped Wall Street expectations during its fiscal Q3 2026 earnings release. The company posted $3.11 billion in revenue and $4.10 in adjusted EPS, both metrics topped the expectations of $2.96 billion and $3.53, respectively. Management raised its long-term annual revenue growth target to at least 20% and projected Q4 2026 EPS of approximately $5.00, well above previous analyst forecasts.