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Seagate (STX) in Focus: Stock Moves 7.1% Higher

Zacks Equity Research
Updated

Seagate Technology plc STX was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat trend of $40.47 to $42.99 in the past one month time frame.

The upside was driven by rumors of the company being one of the early investors in the crypto currency Ripple, which can boost Seagate’s earnings.

The company has seen estimate revision of no increase and one decrease over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Seagate currently has a Zacks Rank #2 (Buy) while its Earnings ESP is negative.  

Seagate Technology PLC Price

Seagate Technology PLC Price | Seagate Technology PLC Quote

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Another stock worth considering in the Computer- Storage Devices industry is NetApp, Inc. NTAP which carries a Zacks Rank #1 (Strong Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.

Is STX going up? Or down? Predict to see what others think: Up or Down

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Seagate Technology PLC (STX) : Free Stock Analysis Report
 
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Zacks Investment Research