Robert W. Baird Forecasts Strong Price Appreciation for Zebra Technologies (NASDAQ:ZBRA) Stock

On November 2, 2024, Robert W. Baird raised its target price for Zebra Technologies (NASDAQ:ZBRA) from $380.00 to $415.00 in a newly published research report. This upgrade suggests a strong outlook for the company’s stock, and Baird maintains an outperform rating on Zebra Technologies.

Zebra Technologies has seen several analysts revisit their price targets recently. Needham & Company LLC also increased their target from $370.00 to $394.00, reiterating a buy rating for the stock. Additionally, Barclays lifted their price target from $314.00 to $347.00 and assigned an equal weight rating. Truist Financial raised their target from $345.00 to $379.00, maintaining a hold rating. Vertical Research began coverage on Zebra Technologies and set a buy rating with a $375.00 price objective, while Stephens increased their target from $380.00 to $410.00 with an overweight rating. The overall feedback from analysts includes one sell rating, three hold ratings, eight buy ratings, and one strong buy rating. Current consensus data from MarketBeat.com shows a moderate buy rating with an average price target of $385.18.

Zebra Technologies' Stock Performance

The stock opened at $384.64 on Wednesday. Zebra Technologies has a current ratio of 1.37, a quick ratio of 0.84, and a debt-to-equity ratio of 0.61. Over the past year, the company’s stock has fluctuated between a low of $198.19 and a high of $394.57, and it currently holds a market capitalization of approximately $19.84 billion. The price-to-earnings ratio stands at 52.33, and the stock has a beta of 1.66, indicating higher volatility compared to the market. The average price over the past 50 days is $359.28, and the 200-day average price is $330.66.

Recent Earnings Announcement

Zebra Technologies recently reported its quarterly earnings on October 29, surpassing analysts’ expectations. The company reported earnings of $3.49 per share, which was significantly higher than the consensus estimate of $2.92 by $0.57. Zebra recorded a net margin of 8.20% and a return on equity of 15.56%. The total revenue for the quarter reached $1.26 billion, exceeding the estimated $1.22 billion. This figure marks a notable 31.3% increase in revenue compared to the same quarter last year, where the earnings per share was just $0.57. Analysts forecast that Zebra Technologies will post earnings of 11.09 per share for the current year.

Insider Transactions

In related news, on August 15, insider Jeffrey F. Schmitz sold 1,000 shares at an average price of $341.69, totaling $341,690. This sale represented no change in his overall position, which still consists of 9,694 shares valued at approximately $3,312,342.86. According to filings with the Securities and Exchange Commission, corporate insiders own about 1.06% of Zebra Technologies' shares.

Institutional Investor Activity

Several hedge funds and institutional investors have recently made adjustments to their holdings in Zebra Technologies. Concord Wealth Partners, for example, acquired a new stake worth around $30,000 in the third quarter. Point72 Asia Singapore Pte. Ltd. also added a new stake, valued at about $27,000, during the second quarter. Furthermore, Farmers & Merchants Investments Inc. significantly boosted its holdings by 185.3% in the same quarter. Blue Trust Inc. increased its stake by 136.7%, now owning 116 shares valued at $43,000. Institutional investors collectively hold approximately 91.03% of Zebra Technologies’ stock.

Company Overview

Zebra Technologies Corporation specializes in enterprise asset intelligence solutions in the automatic identification and data capture sector. The company has two primary segments: Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. Zebra manufactures and sells a variety of products, including printers for labels, wristbands, and plastic cards, as well as RFID devices and temperature-monitoring solutions.

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