Seagate Technology PLCSurge on hyperscaler demand for mass-capacity storage, with revenue and EPS beats.

Seagate Technology shares have surged 445.36% over the past year on hyperscaler demand for mass-capacity storage, and 24/7 Wall St. rates the stock a buy with a price target of $916.25, implying 11.67% upside from the current $820.52. The firm's confidence is anchored in four consecutive quarterly EPS beats, accelerating cloud demand tied to AI infrastructure, and a HAMR technology roadmap now qualified with every major U.S. hyperscaler. Seagate closed fiscal 2026 with fourth-quarter revenue of $3.629 billion, up 48.5% year over year, and non-GAAP EPS of $5.71, beating consensus by 12.11%, while full-year free cash flow hit a record $3.105 billion, up 279.58%. CEO Dave Mosley said nearline capacity is fully allocated through calendar year 2026, with pricing negotiations already underway for 2027 and 2028, and first-quarter fiscal 2027 guidance calls for revenue of $4.10 billion and EPS of $7.30. Wall Street's average target is $1,115.87 with 22 buy ratings against one sell, and the bull-case scenario gets Seagate to $1,217.52, a 48.38% gain, though the trailing P/E of 58 leaves no margin for error if hyperscaler capex cools.
Seagate Technology PLCSurge on hyperscaler demand for mass-capacity storage, with revenue and EPS beats.
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