Seagate Technology PLC (STX) surged 14.55% in intraday trading Thursday, extending a powerful post-earnings rally as investors reacted to the company's blockbuster quarterly results and significantly raised guidance.

The storage giant reported Q4 FY2026 revenue of $3.629 billion, up 48% year-over-year and comfortably exceeding the $3.485 billion consensus estimate. Adjusted earnings per share came in at $5.71, surging 120% from the prior year and beating analyst expectations by 12%, while gross margin reached a record 52.7%. More critically, the company issued Q1 FY2027 revenue guidance of $4.0-4.2 billion, well above the $3.75 billion Street consensus, with adjusted EPS of approximately $7.30 versus the $5.80 estimate, underscoring persistently robust AI-driven data storage demand.

Following the report, multiple Wall Street firms responded by lifting their price targets on the stock, with Argus raising its target to $900 from $750, Barclays to $1,250 from $1,000, and other major banks including Citigroup, JPMorgan, Wells Fargo, and Wedbush all issuing substantial upward revisions. The combination of exceptional financial performance, an optimistic outlook, and a wave of analyst upgrades fueled the sharp intraday surge.