The Vetr crowd downgraded its rating for Seagate Technology PLC (NASDAQ:STX) on Wednesday from 4.5 stars (Strong Buy), issued five days ago, to 4 stars (Buy). Crowd sentiment at the time of the downgrade was still unanimously positive, with 100 percent of Vetr user ratings bullish.
Share price plummeted more than 18 percent after the data company delivered a mixed Q3 earnings report late in April that saw a $0.03 EPS beat at $1.07 but miss on revenue by about $36 million, posting $2.674 billion in sales. This report follows a wildly successful Q2 report, which resulted in about a 30 percent bump that the stock.
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Since reporting on April 26, the company has traded relatively flat, maintaining just above the $42 level. Seagate finished today's trading day at $42.51
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Currently, the Vetr crowd's average target price for Seagate is up at $47.28, which is above the average analyst target price of $42.02. Less than 2 percent of Vetr users are holding STX in their watch lists.
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