Seagate's Stock Soars: What's Driving the Surge?

Seagate Technology is a big name in data storage, making everything from hard drives to SSDs. With a market value of $60. 5 billion, it's a key player in both personal and business tech. Over the past year, Seagate's stock has been on a wild ride. It's shot up by 173. 7%, way ahead of the S&P 500's 13. 8% gain. Even more impressive, it's up 211. 6% so far this year, compared to the S&P 500's 15. 8%. It's also beaten the tech sector's 23. 6% return. The stock got a big boost on October 29th. That's when Seagate reported strong earnings for the first quarter of 2026. They made $2. 61 per share and pulled in $2. 63 billion in revenue, topping expectations. Even better, they forecasted even stronger results for the next quarter. Analysts are feeling good about Seagate. They expect earnings to jump nearly 39% this year. Plus, the company has a track record of beating estimates. Most analysts are bullish on Seagate. Out of 23, 17 rate it a "Strong Buy. " That's even more than three months ago, when only 14 gave it that rating. TD Cowen recently upped their price target to $340, keeping a "Buy" rating. The average price target is $288. 10, about 5. 8% higher than the current price. But the highest target is $465, suggesting a potential 70. 7% upside.