On July 30, Seagate Technology PLC surged 15.96% in regular trading to $886.68/share, with turnover of $427 million, as the market continued to digest a blowout Q4 fiscal report and a wave of analyst upgrades.

Seagate reported Q4 FY2026 revenue of $3.629 billion, up 48% year-over-year and above the $3.485 billion consensus. Adjusted EPS came in at $5.71, surging 120% YoY and beating estimates by 12%. Gross margin reached a record 52.7%. More critically, Q1 FY2027 guidance called for revenue of $4.0–4.2 billion versus the $3.75 billion consensus, with adjusted EPS of approximately $7.30, far exceeding the $5.80 expected — reflecting sustained AI-driven data storage demand.

Following the report, multiple Wall Street firms raised price targets: Citigroup to $1,300, JPMorgan to $1,240, Wells Fargo to $1,180, Wedbush to $1,000, and Argus to $900, all maintaining buy-equivalent ratings. The strong results also lifted the broader storage sector, with SanDisk up 13.0% and Western Digital up 12.16%.

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