Seagate Technology has surged 298% year to date to $1,094.04, but 24/7 Wall St. rates the stock a hold with a $1,010.11 price target, implying roughly 7.7% downside. The rally was fueled by fiscal third-quarter 2026 earnings, where adjusted EPS of $4.10 beat the $3.51 consensus and revenue jumped 44% to $3.11 billion. CEO Dave Mosley confirmed nearline capacity is almost fully allocated through calendar 2027, and management raised its annual revenue growth target to at least 20%. Despite the strong fundamentals, the stock trades at 102 times earnings, and the bear-case scenario points to a 32% drawdown to $742.76.
Seagate Technology PLCAnalyst hold rating with price target implying 7.7% downside and bear-case 32% drawdown
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