Seagate Technology plc (STX Quick QuoteSTX - Free Report) is a Computer Storage Device company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on STX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Seagate Technology could be a solid choice for investors.

Current Quarter Estimates for STX

In the past 30 days, 9 estimates has gone higher for Seagate Technology while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from earnings of 13 cents per share 30 days ago, to earnings of 48 cents today, a significant move.

Current Year Estimates for STX

Meanwhile, Seagate Technology current year figures are also looking quite promising, with 9 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame with estimates rising from earnings of $1.72 per share 30 days ago, to earnings of $2.01 today, a move of 16.9%.

Bottom Line

The stock has also started to move higher lately, adding 27.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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