Seagate Stock Rating Reaffirmed by Needham & Company (STX)
Seagate (NYSE:STX)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company in a report issued on Tuesday, American Banking News reports. They currently have a $54.00 price objective on the stock, up from their previous price objective of $51.00. Needham & Company’s price target points to a potential upside of 6.95% from the company’s current price.
A number of other firms have also recently commented on STX. Analysts at Evercore Partners raised their price target on shares of Seagate from $43.00 to $48.00 in a research note to investors on Monday. They now have an “equal weight” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Seagate from $48.00 to $55.00 in a research note to investors on Monday. Finally, analysts at RBC Capital raised their price target on shares of Seagate from $44.00 to $48.00 in a research note to investors on Tuesday, October 8th. They now have a “sector perform” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Seagate currently has a consensus rating of “Hold” and an average price target of $51.24.
Shares of Seagate (NYSE:STX) opened at 50.49 on Tuesday. Seagate has a 1-year low of $24.90 and a 1-year high of $50.55. The stock’s 50-day moving average is $43.52 and its 200-day moving average is $41.89. The company has a market cap of $18.016 billion and a P/E ratio of 10.50.
Seagate (NYSE:STX) last announced its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the company posted $2.41 earnings per share. Seagate’s revenue was down 23.6% compared to the same quarter last year.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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