Seagate stock: Wells Fargo cuts target to USD 865.00

Published on 10/20/2026 at 16:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Seagate revenue reached USD 3.63 billion in the June quarter, up 48.5 percent year over year. Seagate stock costs EUR 599.00 on October 20, 2026.

Analyst target and quarterly figures

Wells Fargo lowered its Seagate target from USD 1,180.00 to USD 865.00 on October 16, 2026.
Seagate reported USD 3.63 billion in quarterly revenue, up 48.5 percent year over year.
Seagate stock costs EUR 599.00 at Lang & Schwarz on October 20, 2026 at 4:37 p.m. CEST.

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Seagate Technology (ISIN IE00BKVD2N49) faces a lower Wells Fargo price target after the firm cut its view from USD 1,180.00 to USD 865.00 on October 16, 2026, according to Markets Insider. Seagate reported USD 3.63 billion in quarterly revenue, up 48.5 percent from the comparable period, while the stock was trading at EUR 599.00 at Lang & Schwarz on October 20, 2026 at 4:37 p.m. CEST.

Wells Fargo lowers its target

Wells Fargo retained an Overweight rating alongside the target reduction. The firm cited recent HDD-stock underperformance and maintained its view that Seagate can deliver 25.00 percent to 30.00 percent or more revenue growth and reach gross margins of 60.00 percent to 65.00 percent or more, as reported by Markets Insider. The target change gives investors a fresh measure of how sharply expectations differ across the storage sector.

Revenue growth remains the key figure

For the fiscal fourth quarter reported on July 28, 2026, Seagate delivered USD 3.63 billion in revenue against a USD 3.50 billion consensus estimate. The result was 48.50 percent above the prior-year quarter, while earnings reached USD 5.71 per share versus a USD 5.10 estimate, according to MarketBeat.

Price position and valuation

The Nasdaq-listed stock had a USD 209.00 to USD 1,145.00 52-week range and a USD 149.29 billion market capitalization in the October 16, 2026 market snapshot. Its trailing P/E ratio was 47.36, placing the valuation alongside the debate over whether data-center demand can support the recent earnings pace. The current euro quotation remains separate from those Nasdaq figures.

Dates and investor context

The latest reported quarter is the most recent dated operating milestone in this review. The October 16, 2026 Wells Fargo action adds a valuation reference, while the revenue comparison supplies an operating counterweight to the lower target.

Trading perspective

Seagate combines a 48.50 percent year-over-year revenue increase with a target reduction of USD 315.00. That contrast leaves the quarterly growth rate and the next update as the central points for assessing whether the storage cycle can justify the broader range of analyst views.

Seagate stock was trading at EUR 599.00 at Lang & Schwarz on October 20, 2026 at 4:37 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Seagate stock.