Baird Raises Seagate Technology (STX) PT to $188, Cites Strong Fundamentals

Seagate Technology Holdings (NASDAQ:STX) is one of the cheap technology stocks to buy now. On August 5, Baird raised its price target for Seagate from $120 to $188, while maintaining an Outperform rating on the shares. The firm’s decision was based on new company fundamentals that they believe are not yet reflected in the stock price.

In Q2 2025, Seagate Technology’s sales of ~$2.4 billion showed an improvement of 29.5% year-on-year increase. Non-GAAP profit was $2.59 per share, exceeding consensus estimates by 6%. Seagate’s guidance for Q3 revenue is ~$2.5 billion, which is 2.5% below analyst estimates of $2.56 billion.

The adjusted EPS guidance for Q3 is $2.30 at the midpoint, which is also slightly below analyst estimates of $2.32.

Seagate Technology Holdings (NASDAQ:STX) provides data storage technology and infrastructure solutions in Singapore, the US, the Netherlands, and internationally.

While we acknowledge the potential of STX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than STX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.