Why Investors Shouldn’t Be Surprised By Seagate Technology Holdings plc’s (NASDAQ:STX) 26% Share Price Surge
Despite an already strong run, Seagate Technology Holdings plc (NASDAQ:STX) shares have been powering on, with a gain of 26% in the last thirty days. Looking back a bit further, it’s encouraging to see the stock is up 27% in the last year.
After such a large jump in price, you could be forgiven for thinking Seagate Technology Holdings is a stock to steer clear of with a price-to-sales ratios (or “P/S”) of 3.3x, considering almost half the companies in the United States’ Tech industry have P/S ratios below 1.2x. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly elevated P/S.
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