Zebra Technologies (ZBRA) PT Raised to $600 at Needham & Company

August 4, 2021 6:28 AM EDT
Get Alerts ZBRA Hot Sheet
Price: $559.48 +1.09%

Rating Summary:
    11 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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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."



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