Analysts are raising price targets for Seagate Technology following its fiscal third-quarter earnings report. On May 4, 2026, Sanford C. Bernstein increased its target to $1,000, and Argus Research raised its target to $750.
The upgrades follow a quarter where Seagate beat earnings and revenue expectations. Management also issued strong guidance for the next quarter.
Surging AI demand for high-capacity storage is driving the optimistic outlook. Seagate's nearline capacity is now largely allocated through calendar 2027.