Seagate Technology PLC (STX) surged 5.05% in pre-market trading on Thursday, extending its post-earnings rally as investors cheered the company's blockbuster quarterly results and bullish guidance.

The memory storage giant reported Q4 FY2026 revenue of $3.629 billion, up 48% year-over-year and handily beating the consensus estimate of $3.485 billion. Adjusted earnings per share came in at $5.71, surging 120% from the prior year and exceeding analyst expectations by 12%, while gross margin reached a record 52.7%. More critically, the company issued Q1 FY2027 revenue guidance of $4.0-4.2 billion, well above the $3.75 billion Street consensus, with adjusted EPS of approximately $7.30 versus the $5.80 estimate, underscoring persistently robust AI-driven data storage demand.

Multiple Wall Street firms responded by lifting their price targets on the stock, with Barclays raising its target to $1,250 from $1,000, Citigroup to $1,300, JPMorgan to $1,240, Wells Fargo to $1,180, and Wedbush to $1,000, further bolstering market sentiment and driving the pre-market surge.