Investment analysts at Lazard Capital Markets raised their target price on shares of Seagate (NYSE:STX) from $48.00 to $56.00 in a note issued to investors on Thursday, ARN reports. The firm currently has a “buy” rating on the stock. Lazard Capital Markets’ target price would suggest a potential upside of 19.40% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Seagate in a research note to investors on Tuesday. Separately, analysts at Needham & Company raised their price target on shares of Seagate from $45.00 to $51.00 in a research note to investors on Thursday, July 11th. They now have a “buy” rating on the stock. Finally, analysts at Piper Jaffray Cos. initiated coverage on shares of Seagate in a research note to investors on Monday, July 8th. They set a “neutral” rating and a $45.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.38.
Shares of Seagate (NYSE: STX) remained flat at $46.90 during during mid-day trading trading on Thursday. Seagate has a one year low of $24.90 and a one year high of $47.20. The stock’s 50-day moving average is currently $44.54. The company has a market cap of $16.816 billion and a P/E ratio of 7.44.
Seagate (NYSE:STX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.16 by $0.10. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company posted $2.64 earnings per share. Seagate’s revenue was down 20.8% compared to the same quarter last year. Analysts expect that Seagate will post $5.29 EPS for the current fiscal year.
Seagate Technology plc (NYSE: STX) is the provider of electronic data storage products.