Citi Remains Bullish on Seagate Technology Holdings (STX) Amid Stable Demand

Seagate Technology Holdings plc (NASDAQ:STX) is included in the list of the best performing S&P 500 stocks in the last five years.

On February 6, 2026, Citi reaffirmed its ‘Buy’ rating on Seagate Technology Holdings plc (NASDAQ:STX), raising its price target from $460 to $480 in response to recent investor meetings with management. According to the firm, conversations highlighted a durable demand environment Seagate is seeing, bolstering trust in the company’s positioning as enterprise customers increase data center capacity to accommodate artificial intelligence workloads.

Meanwhile, on January 27, 2026, Reuters reported Seagate’s earnings update, in which Seagate Technology Holdings plc (NASDAQ:STX) projected third-quarter revenue of $2.90 billion ± $0.10 billion, exceeding the $2.77 billion consensus. Also, the company forecast adjusted EPS of $3.40 ± $0.20, which was lower than the $2.96 estimate.

At the same time, Seagate Technology Holdings plc (NASDAQ:STX) reported higher-than-expected revenue of $2.83 billion and adjusted EPS of $3.11 for the second quarter. As AI-driven data creation speeds up, management pointed out that there is an increasing need for high-capacity storage, which is driving the company’s performance.

Seagate Technology Holdings plc (NASDAQ:STX) focuses on the development and sale of data storage solutions, including hard disk drives and related systems. Amid rising data center and AI-driven storage demand, the company continues to cater to the enterprise, cloud, and consumer markets.

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