Zacks Research downgrades Seagate stock to Hold as consensus stays Moderate Buy

Published on 10/02/2026 at 14:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal 2026 revenue rose 34.00 percent to USD 12.2 billion. Seagate Technology stock costs EUR 732.00 on October 2, 2026 after EUR 841.00, minus 12.96 percent.

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Seagate Technology (ISIN IE00BKVD2N49) was trading at EUR 732.00 at Lang & Schwarz on October 2, 2026 at 1:48 p.m. CEST, down 12.96 percent versus the prior close of EUR 841.00. MarketBeat reported on September 30, 2026 that Zacks Research downgraded Seagate Technology from strong buy to hold, while the broader consensus remained Moderate Buy.

Downgrade meets stronger fundamentals

The rating change contrasts with Seagate's latest operating performance. StockTitan summarized the company's July 28, 2026 filing as showing fiscal 2026 revenue of USD 12.2 billion, up 34.00 percent from fiscal 2025, with GAAP diluted earnings per share of USD 13.90.

The same filing summary reported USD 3.7 billion in operating cash flow and USD 3.1 billion in free cash flow for fiscal 2026. That combination gives the downgrade a clear counterpoint: the company entered fiscal 2027 with higher sales, stronger cash generation and a more demanding valuation backdrop.

Guidance sets the next test

For the first quarter of fiscal 2027, management guided to revenue of USD 4.1 billion plus or minus USD 100.0 million and non-GAAP diluted earnings per share of USD 7.30 plus or minus USD 0.20, according to StockTitan.

The guidance midpoint implies a substantial step up from the fiscal fourth-quarter revenue of USD 3.6 billion cited in the same filing summary. For investors, the key tension is therefore visible in the numbers: Zacks has become more cautious on the rating, while Seagate's own near-term outlook still calls for higher revenue and profitability.

Stock reprices after sharp decline

The Lang & Schwarz quote of EUR 732.00 was EUR 109.00 below the prior close of EUR 841.00 on October 2, 2026. The same session showed a minus 12.96 percent change, making the rating decision and the company's forward guidance the main reference points for assessing the move.

On Nasdaq, Seagate Technology was last quoted at USD 945.57 on October 1, 2026 at 4:00 p.m. ET. The primary-exchange 52-week range was USD 209.00 to USD 1,145.00, and the market capitalization was USD 212.0 billion as of October 2, 2026.

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