Cantor Fitzgerald Cuts STX Price Target to $1,000
Key Points
- Cantor Fitzgerald adjusted its price target for Seagate Technology from $1,300 to $1,000, indicating a significant downward revision.
- Cantor Fitzgerald's $1,000 price target implies 58.61% upside from Seagate Technology Holdings plc's ($STX) current $630.49 share price.
- The stock recently traded at about $630.49, which is below the new target and significantly below its 52-week high of $1,145.
- Seagate has a market cap of approximately $143.4 billion and is set to report its next earnings on October 27, 2026.
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On October 26, 2026, Cantor Fitzgerald lowered its price target on Seagate Technology Holdings plc (STX) to $1,000 from $1,300 while maintaining an Overweight rating. This change reflects a significant downward adjustment in the firm's outlook for the company. The closing price of Seagate shares was $630.49 on October 23, 2026, the last trading day before the announcement.
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Cantor Fitzgerald's Call on Seagate
Cantor Fitzgerald's new price target of $1,000 represents a notable decrease from the prior target of $1,300. The firm continues to rate the stock as Overweight, suggesting that it still believes in the company's long-term potential despite the reduced target. This adjustment comes as part of a broader reevaluation of the market landscape.
Other Institutional Activity in Seagate
WCM Investment Management, LLC increased its stake in Seagate by 973,679 shares, bringing its total holdings to 5,320,463 shares valued at about $3.35 billion. This reflects a 22.4% increase in their position, indicating continued confidence in the company despite the recent target adjustments.
Seagate Technology Holdings plc Stock Down 1.8%
Seagate shares are currently trading at around $630.49, which is about equal to its closing price on October 23, 2026. The stock is trading significantly below its 50-day moving average of $823.08 and its 200-day moving average of $683.52. Moreover, it is about 44.9% below its 52-week high of $1,145, but 189.7% above its 52-week low of $217.67.
$STX price target
Seagate Technology Holdings plc daily closes and this analyst's $1,000 target. Not advice.
Recent Earnings
Seagate reported trailing twelve-month revenue of approximately $12.2 billion and an earnings per share (EPS) of $13.9. The company is set to announce its next earnings on October 27, 2026, which will provide further insights into its financial performance.
Analysts Set New Price Targets
On the same day as Cantor Fitzgerald's announcement, several other firms maintained their ratings on Seagate. For instance, Wells Fargo kept its Overweight rating but lowered its target to $865 from $1,180 on October 16, 2026. Morgan Stanley maintained an Overweight rating with a target of $1,200, down from $1,187, on October 20, 2026.
About Seagate Technology
Seagate Technology Holdings plc, headquartered in Singapore, provides data storage solutions worldwide. The company offers a range of products, including hard drives and solid-state drives, catering to various markets such as enterprise and cloud solutions. The recent changes in analyst targets highlight the shifting landscape in the technology sector, particularly in data storage.
Bottom Line
Investors should keep an eye on Seagate's next earnings report on October 27, 2026, as it may influence future analyst ratings and stock performance. The adjustments in price targets from Cantor Fitzgerald and other firms reflect a cautious approach in the current market environment.
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Source: Cantor Fitzgerald's rating change on $STX (Oct 26, 2026). Written by software, not financial advice. How we make alerts