Seagate Earnings Preview: Shares Rise as Investors Anticipate Robust Results

Seagate Technology's (STX) shares rose 2.5% to $872.53 in Monday's premarket session, as investors look ahead to Tuesday's earnings report.

The company is expected to announce quarterly revenue of $3.5 billion and earnings per share (EPS) of $5.10, according to Wall Street consensus projections.

Analyst Matt Bryson at Wedbush has upgraded his price target for STX from $825 to $1,000, while maintaining an Overweight recommendation.

Bryson expects Seagate to deliver results exceeding expectations due to modest pricing improvements and an enhanced revenue composition.

The hard drive market is expected to maintain robust momentum through 2027, driven by demand from major cloud infrastructure operators.