Seagate Stock Bounces 2.5% as Earnings Loom

Seagate (STX) stock bounced 2.5% to $872.53 in Monday premarket trading, but has still fallen 11% this month after a rough week.

The hard-disk drive maker reports earnings on Tuesday, July 28, with analysts expecting EPS of $5.10 and revenue of $3.5 billion.

Wedbush analyst Matt Bryson reiterated his Overweight rating on Monday and lifted his price target to $1,000 from $825, citing slight price increases and a better product mix.

Bryson noted that demand for hard-disk drives is expected to continue strong well into 2027 due to cloud hyperscalers' need for massive datasets in AI model training.