Seagate Stock Rises Despite Analyst Cutting Price Target Ahead of Quarterly Results: Retail Remains On Sidelines

Seagate Technology Holdings, Inc. (STX) stock rallied with the broader market on Wednesday despite negative analyst action, but retail investors remained wary of the stock. 

Fremont, California-based Seagate, a data storage devices company, has seen its stock rise 9.6% in January following a below-market return of 4% in 2024. 

The company is scheduled to report its fiscal year 2025 second-quarter results after the market closes on Tuesday. Analysts, on average, expect the company to report non-GAAP earnings per share (EPS) of $1.88 for the quarter, up from $0.12 a year ago. 

The consensus revenue estimate calls for year-over-year (YoY) growth to $2.32 billion from $1.55 billion. 

In a note previewing the quarterly results, BofA Securities reduced the price target for Seagate stock to $124 from $130, TheFly reported. Notwithstanding the cut, the stock still presents an upside potential of about 36%.

The firm’s analysts blamed the action on Street’s “elevated” March quarter revenue estimate. However, it expects the company to report in-line December quarter earnings and revenue.

BofA rates Seagate stock a ‘Buy.’

On Stocktwits, retail sentiment toward the stock stayed ‘neutral’ (47/100), although message volume rose to ‘high’ levels.

Posting a message on the Seagate stream on Stocktwits, a watcher said the stock is trying to bottom on a long-term trend line. At $95, Seagate stock is a bargain, another contended. 

On the other hand, some expressed a negative view, as they see memory chipmakers becoming obsolete and demand remaining weak in 2025.

At last check, the stock climbed 3.83% to $94.72, with volume just about in line with the average.

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