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Should You Buy #1 (Strong Buy)-Ranked Seagate (STX) for Your Portfolio?

Seagate was upgraded to the Zacks Rank #1 list on August 17, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Headquartered at Dublin, Ireland, Seagate is leading provider of data storage technology and infrastructure solutions. The company’s primary product offering is hard disk drives which is commonly referred to as disk drives, hard drives or HDDs. HDDs are used as the primary medium for storing digitally encoded data on rapidly rotating disks with magnetic surfaces.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2025, while the Zacks Consensus Estimate has increased $1.59 to $7.41 per share. STX also boasts an average earnings surprise of 80.9%.

Analysts are expecting earnings to grow 474.4% for the current fiscal year, with revenue forecasted to rise 42.8%.

STX has been moving higher over the past four weeks as well, up 7.6% compared to the S&P 500's gain of 5.8%.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Seagate could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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Seagate Technology Holdings PLC (STX) : Free Stock Analysis Report

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