Seagate Technology Holdings plc (NASDAQ:STX), an established player in the data storage industry, is preparing to disclose its fiscal second-quarter earnings following the market close on Tuesday, January 27. Market consensus forecasts indicate robust performance metrics, with earnings per share anticipated to reach $2.84, marking an increase from $2.03 recorded during the corresponding quarter last year. Concurrently, revenue projections stand at approximately $2.75 billion, up from $2.33 billion year-over-year, signaling sustained growth momentum for the Singapore-based enterprise.
These expectations build upon a solid foundation established in Seagate's previous quarter, where the company reported financial results that surpassed analysts' forecasts. On October 28, Seagate revealed first-quarter earnings and revenue figures that exceeded market anticipations, contributing to a positive outlook entering the current reporting period.
Reflecting investor confidence, Seagate's share price appreciated by 3.5%, closing at $358.29 as of the trading session on Monday. This upward trend underscores growing optimism among market participants leading up to the earnings release.
In light of the forthcoming report, several of Benzinga's most precise equity research analysts have revisited their evaluations of Seagate's stock, offering insight into industry expert sentiment and valuation adjustments.
Morgan Stanley's Erik Woodring, who boasts an accuracy rate of 78% in his analyst forecasts, has retained an Overweight rating on Seagate's shares. On January 22, 2026, Woodring elevated his price target from $337 to $372, reflecting confidence in the company's operational and financial trajectory.
Similarly, UBS analyst Timothy Arcuri, noted for an 84% accuracy rate, maintained a Neutral stance on the stock but significantly raised the price target from $230 to $335 as of January 20, 2026. This adjustment suggests expectation of enhanced valuation potential despite a neutral rating.
Citigroup's Asiya Merchant, with a forecast accuracy of 88%, upheld a Buy rating for Seagate while revising her price target upward from $320 to $385 on the same date. This move signals a strong endorsement of the company's outlook and growth prospects.
Bank of America Securities' analyst Wamsi Mohan, who provides insights with an 82% accuracy rate, also reiterated a Buy recommendation, increasing the price target from $320 to $400 as of January 20, 2026. This marks one of the most optimistic forecasts among Seagate's analyst coverage, underscoring bullish sentiment.
Adding to this positive analyst consensus, Rosenblatt's Kevin Cassidy maintained a Buy rating and raised his price target from $270 to $370, reporting a historical accuracy level of 79%. This adjustment further aligns with the prevailing confidence in Seagate's near-term performance.
For investors considering exposure to Seagate's stock ahead of the earnings announcement, these analyst revisions provide a snapshot of industry expectations shaped by recent company performance and strategic positioning.
As of the most recent market close, Seagate Technology's shares stand at $366.50, reflecting a 2.29% increase. Market metrics such as momentum rankings highlight a strong short-term performance score of 98.30, while other factors such as growth, quality, and value metrics await further data before being fully evaluated.
The upcoming earnings report will be closely monitored for indications on Seagate's ability to capitalize on demand for data storage solutions within evolving technology landscapes, including artificial intelligence infrastructure and cloud computing sectors where semiconductor content and capacity utilization remain critical.