Zebra Technologies (NASDAQ: ZBRA) has received an upgrade from Zacks Research, moving from a “strong sell” rating to a “hold” rating. This change, announced in a research note released on October 30, 2023, reflects a shift in perception among analysts regarding the company’s stock.
Other analysts have also weighed in on Zebra Technologies. KeyCorp maintained a “sector weight” rating in its report issued on the same day as Zacks’ upgrade. Meanwhile, Barclays adjusted its price target for Zebra Technologies from $375.00 to $360.00, assigning an “overweight” rating in a report released on October 29, 2023. Citigroup similarly reduced its price target from $346.00 to $311.00, while issuing a “neutral” rating on the stock during the same timeframe.
Analyst Consensus and Financial Performance
Truist Financial also lowered its price objective for Zebra Technologies from $331.00 to $291.00, maintaining a “hold” rating in a report dated December 18, 2023. Weiss Ratings reaffirmed a “hold (c)” rating for the company in a report dated October 8, 2023. Currently, one analyst has assigned a “strong buy” rating, five have given a “buy” rating, and six have opted for a “hold” rating. According to MarketBeat data, Zebra Technologies holds a consensus rating of “Moderate Buy” with an average target price of $349.00.
Zebra Technologies recently reported its quarterly earnings on October 28, 2023, revealing an earnings per share (EPS) of $3.88, surpassing the consensus estimate of $3.75 by $0.13. The company achieved a net margin of 9.74% and a return on equity of 18.08%. Revenues for the quarter totaled $1.32 billion, aligning with analysts’ expectations and reflecting a 5.2% increase compared to the same quarter last year.
Zebra Technologies has provided guidance for Q4 2025, projecting an EPS between $4.200 and $4.400. For the full fiscal year 2025, the company anticipates an EPS of $15.800.
Insider Trading and Institutional Investment
In related news, Director Satish Dhanasekaran purchased 1,000 shares of Zebra Technologies on November 18, 2023, at an average price of $233.12 per share, totaling $233,120.00. This acquisition increased Dhanasekaran’s ownership of the stock by 42.44%, bringing his total shares to 3,356, valued at approximately $782,350.72. This transaction was disclosed in a filing with the Securities and Exchange Commission.
Institutional investors have also been active in the stock’s trading. Vanguard Group Inc. increased its stake in Zebra Technologies by 1.3% during the third quarter, now holding 6,513,454 shares worth around $1.94 billion. Similarly, State Street Corp. boosted its holdings by 1.7%, owning 2,242,126 shares valued at $666.27 million.
Other notable transactions include Invesco Ltd., which raised its stake by 5.8% to 1,413,247 shares, and Boston Partners, which increased its holdings by 0.4%. Overall, institutional investors and hedge funds collectively hold 91.03% of Zebra Technologies’ stock.
Zebra Technologies Corporation specializes in marking, tracking, and computer printing solutions globally. The company’s diverse product offerings enable real-time visibility of assets and personnel across various industries, including retail, healthcare, manufacturing, and logistics. Its portfolio features barcode and RFID printers, mobile computing devices, and associated supplies.
