Zebra Technologies (ZBRA) PT Raised to $600 at Needham & Company
- Dow, S&P 500 end with gains up after bumpy week, but Nike drags
- Over $100 Billion Wiped Off: Bitcoin (BTC) Price Falls As China's Central Bank Vows to Ban Cryptocurrency Trading
- Nike (NKE) Stock Falls On a Revenue Miss and Slashed FY Sales Outlook, Analysts Bullish Despite NT Supply Chain Challenges
- Oil hits highest in almost 3 years as supply tightens
- Here's Why Meredith (MDP) Stock Price Soared 18% in After Hours
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Needham & Company analyst James Ricchiuti raised the price target on Zebra Technologies (NASDAQ: ZBRA) to $600.00 (from $580.00) while maintaining a Buy rating.
The analyst commented, "ZBRA delivered another strong beat-and-raise quarter yesterday, with revenue coming in above the high end of guidance and 2% above consensus. Non-GAAP EPS totaled $4.57, 9% above the high end of guidance 11% above consensus, the upside driven in part by a $12M recovery of China import tariffs that partially offset $33M of premium freight costs. The performance was highlighted by 40% organic growth, including 35% growth in EVM and 51% y/o/y growth in AIT. ZBRA provided Q3 revenue guidance that at the midpoint was 7% above consensus with better-than-expected earnings guidance for Q3 and 2021, even with higher assumed premium freight costs. We believe the re-rating of ZBRA’s shares can continue, along with further upside potential to estimates over the next 6-12 months. We are raising our estimates for 2021 and 2022. Reiterate Buy."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gree Electric Appliances Inc of Zhuhai (000651:CH) PT Lowered to RMB49 at Goldman Sachs
- HDFC Bank Limited (HDFCB:IN) (HDB) PT Raised to INR1,900 at Citi
- Singapore Telecommunications Ltd. (ST:SP) (SGAPY) PT Raised to SGD4.10 at New Street Research
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!