We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Seagate's (STX) Lyve Cloud Services Offered by Climb Channel
Read MoreHide Full Article
Seagate Technology Holdings plc (STX - Free Report) Lyve cloud services will now be offered by Climb Channel Solutions to its channel community. Climb Channel is a wholly-owned subsidiary of Wayside Technology Group, Inc.
Climb Channel stated that the addition of Lyve Cloud would benefit its channel partners. Lyve cloud will offer them seamless cloud storage multi-cloud environment while providing a highly competitive total cost of ownership.
Lyve Cloud is the Seagate’s storage-as-a-service platform (only S3-compatible). The platform is intended to help business organizations manage exponential unstructured data growth across multi-cloud environments and eliminates costs such as egress and API fees and vendor lock-ins.
Earlier, in April 2022, the two companies collaborated, whereby Seagate’s Lyve Mobile data transfer services would be offered by Climb to the channel community.
Seagate Technology Holdings PLC Price and Consensus
With the help of this alliance, Lyve Mobile will play a vital role in solving clients’ data mobility challenges. Lyve Mobile enables hardware, software, and managed services opportunities behind its subscriptions by providing an agnostic tool for managing data workflows.
Seagate is one of the largest providers of hard disk drives (HDDs) and solid-state drives (SSDs). The company is well-poised to gain from the strong demand for mass capacity storage solutions. The company’s transition to higher capacity drives bodes well as it offsets lower business volumes and higher component costs. Strengthening enterprise and video and image applications (VIA) markets augur well.
Seagate’s performance is currently affected by inflationary pressures, non-HDD component shortages and uncertainty prevailing over global economic conditions, particularly at legacy end-markets.
The company recently slashed the outlook for the current quarter owing to the deteriorating macroeconomic environment, especially in some Asian markets. Seagate noted that current cautious spending patterns by customers, including global Enterprise, OEMs and certain domestic cloud clients, will likely affect demand for mass capacity solutions in the near term.
The company now expects revenues to be $2.1 billion (+/- $100 million) against previous guidance of revenues of $2.5 billion (+/- $150 million).
At present, Seagate carries a Zacks Rank #5 (Strong Sell). Shares have lost 27% compared with the industry’s decline of 63.4% in the past year.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 2.7% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 10.2% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 29.2% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Seagate's (STX) Lyve Cloud Services Offered by Climb Channel
Seagate Technology Holdings plc (STX - Free Report) Lyve cloud services will now be offered by Climb Channel Solutions to its channel community. Climb Channel is a wholly-owned subsidiary of Wayside Technology Group, Inc.
Climb Channel stated that the addition of Lyve Cloud would benefit its channel partners. Lyve cloud will offer them seamless cloud storage multi-cloud environment while providing a highly competitive total cost of ownership.
Lyve Cloud is the Seagate’s storage-as-a-service platform (only S3-compatible). The platform is intended to help business organizations manage exponential unstructured data growth across multi-cloud environments and eliminates costs such as egress and API fees and vendor lock-ins.
Earlier, in April 2022, the two companies collaborated, whereby Seagate’s Lyve Mobile data transfer services would be offered by Climb to the channel community.
Seagate Technology Holdings PLC Price and Consensus
Seagate Technology Holdings PLC price-consensus-chart | Seagate Technology Holdings PLC Quote
With the help of this alliance, Lyve Mobile will play a vital role in solving clients’ data mobility challenges. Lyve Mobile enables hardware, software, and managed services opportunities behind its subscriptions by providing an agnostic tool for managing data workflows.
Seagate is one of the largest providers of hard disk drives (HDDs) and solid-state drives (SSDs). The company is well-poised to gain from the strong demand for mass capacity storage solutions. The company’s transition to higher capacity drives bodes well as it offsets lower business volumes and higher component costs. Strengthening enterprise and video and image applications (VIA) markets augur well.
Seagate’s performance is currently affected by inflationary pressures, non-HDD component shortages and uncertainty prevailing over global economic conditions, particularly at legacy end-markets.
The company recently slashed the outlook for the current quarter owing to the deteriorating macroeconomic environment, especially in some Asian markets. Seagate noted that current cautious spending patterns by customers, including global Enterprise, OEMs and certain domestic cloud clients, will likely affect demand for mass capacity solutions in the near term.
The company now expects revenues to be $2.1 billion (+/- $100 million) against previous guidance of revenues of $2.5 billion (+/- $150 million).
At present, Seagate carries a Zacks Rank #5 (Strong Sell). Shares have lost 27% compared with the industry’s decline of 63.4% in the past year.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Cadence Design Systems (CDNS - Free Report) , Badger Meter (BMI - Free Report) and Arista Networks (ANET - Free Report) . Cadence and Arista sport a Zacks Rank #1 (Strong Buy) while Badger Meter carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 2.7% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 10.2% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 9.8% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 29.2% in the past year.