Seagate shares jump as Q3 earnings beat expectations and price targets rise above $1,000.

Seagate Technology reported strong Q3 results with earnings per share of $4.10, beating analyst estimates by $0.59, and revenue of $3.11 billion, a 44.1% increase year-over-year. Following this, Morgan Stanley raised its price target to $1,035 and maintained an Overweight rating, while other firms like JPMorgan and Barclays also increased their forecasts. The company expects Q4 2026 EPS between $4.80 and $5.20 and projects long-term revenue growth of at least 20% annually, driven by high demand for nearline storage from cloud and AI sectors. Seagate’s shares have surged significantly, reflecting strong market confidence in its growth outlook and financial health.