Analysts Hike Seagate Technology Price Targets Ahead of Earnings
Seagate Technology Earnings on the Horizon
Seagate Technology Holdings plc (NASDAQ: STX) is approaching the release of its earnings for the fiscal first quarter. Analysts and investors alike are gearing up for what is expected to be an insightful earnings call. The earnings results are set to be announced following the closing bell soon.
Quarterly Earnings Projections
Expectations are high for Seagate, as analysts forecast the company will achieve quarterly earnings of $2.4 per share. This marks a notable increase from the $1.58 per share reported during the same time last year. Additionally, the consensus estimate for the quarterly revenue is projected at $2.55 billion, surpassing the $2.17 billion reported a year ago.
Recent Performance Insights
On July 29, Seagate reported its fourth-quarter financial results, which exceeded market expectations and highlighted the company’s resilience. However, despite these positive developments, shares of Seagate saw a slight decline of 1.6%, closing at $230.32 recently. This fluctuation symbolizes the volatility often observed in the tech market.
Analyst Expectations and Ratings
Analyst ratings play a crucial role in guiding investors when considering their options. Notably, various analysts have revisited their ratings for Seagate recently. Keep in mind that different perspectives can influence market behavior as the earnings announcement draws near.
Analysts’ Price Target Revisions
The analysts have made some significant revisions to their price targets for Seagate, reflecting growing confidence in the company's future prospects.
- UBS analyst Timothy Arcuri maintained a Neutral rating and adjusted the price target from $155 to $235.
- Mizuho analyst Vijay Rakesh held an Outperform rating and increased the price target from $245 to $280.
- Loop Capital analyst Ananda Baruah kept a Buy rating with a raised price target from $200 to $350.
- Wedbush analyst Matt Bryson also maintained an Outperform rating, pushing the price target higher from $175 to $260.
- Citigroup analyst Asiya Merchant solidified a Buy rating while boosting the price target from $215 to $250.
Investor Considerations
For those contemplating an investment in STX, these adjusted ratings provide valuable insight into what to expect moving forward. It’s essential for investors to understand each analyst's rationale, as the collective sentiment can significantly shape market dynamics.
The Bigger Picture
Overall, Seagate's upcoming earnings results and the revised expectations from analysts underline the ever-evolving landscape in which the company operates. The insights gleaned from these earnings calls can provide long-term impacts on investment decisions and market performance.
Frequently Asked Questions
When will Seagate release its earnings results?
Seagate is expected to release its quarterly earnings after the closing bell on the upcoming Tuesday.
What earnings per share are analysts forecasting for Seagate?
Analysts anticipate Seagate will report earnings of $2.4 per share for the quarter.
What is the current stock price of Seagate Technology?
The recent closing price for Seagate shares was $230.32, with a slight decline noted.
How have analysts rated Seagate recently?
Analysts have varied ratings, with most raising their price targets indicating positive growth expectations.
What was Seagate's revenue estimate for the last quarter?
The consensus estimate for Seagate's revenue this quarter stands at approximately $2.55 billion.
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