Why Seagate (STX) Might be Well Poised for a Surge

Core Viewpoint - Seagate (STX) shows a promising earnings outlook, with analysts raising their earnings estimates, which is likely to positively impact the stock price [1][2]. Earnings Estimate Revisions - Current-quarter earnings are projected at $2.68 per share, reflecting a year-over-year increase of +32.0% [6]. - Over the past 30 days, the Zacks Consensus Estimate for Seagate has risen by 13.78%, with two estimates increasing and no negative revisions [6]. - For the full year, earnings are expected to be $11.02 per share, indicating a +36.1% change from the previous year [7]. - The consensus estimate for the current year has increased by 7.91%, supported by four upward revisions and no negative changes [7][8]. Zacks Rank and Performance - Seagate currently holds a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts regarding positive earnings revisions [9]. - Historically, Zacks 1 Ranked stocks have delivered an average annual return of +25% since 2008, suggesting a strong potential for outperformance [3]. - Stocks with Zacks Rank 1 and 2 have been shown to significantly outperform the S&P 500 [9]. Stock Performance - The stock has gained 9.4% over the past four weeks, driven by favorable estimate revisions, indicating strong investor interest [10].