STX Stock Soars 6.3% on Strong Earnings, $1,400 Price Target

Shares of Seagate Technology (STX) surged 6.3% in Friday's trading session, following a quarterly revenue announcement that exceeded Wall Street expectations.

The company reported $3.63 billion in quarterly revenues, representing a 48.5% year-over-year increase and surpassing the projected $3.50 billion.

Earnings per share landed at $5.71, beating the consensus of $5.10 by $0.61. Net profit margin registered at 26.11%, while return on equity reached an impressive 369.98%.

Looking ahead to Q1 2027, Seagate projected EPS between $7.10 and $7.50, significantly exceeding analyst estimates for the complete fiscal year 2027, which stand at $35.70 per share.