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
Trade Now! 
Join SI Premium – FREE

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

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Needham & Company, Earnings