Traders Anticipate Up to 12% Move in Seagate Stock After Earnings Report
Seagate Technology (STX) is set to report earnings after the market closes on Tuesday, with traders expecting a significant stock movement of up to 12%. This could push shares as high as $900 or down to around $720 by week's end. The stock has surged over 300% since January but recently pulled back about 30%, mirroring broader declines in the AI sector. Analysts are optimistic, with Morgan Stanley predicting strong results driven by price increases and robust demand for Seagate’s hardware. Visible Alpha estimates show expectations of $5.12 adjusted earnings per share on revenue of $3.5 billion for its fiscal fourth quarter. Of six analysts surveyed, five recommend buying the stock, with an average price target suggesting over 20% upside from current levels.
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