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In a remarkable display of market resilience, Zebra Technologies Corp. (ZBRA) stock has achieved a 52-week high, reaching a price level of $373.88. This peak reflects a significant turnaround for the company, which has seen its stock value surge by 64.62% over the past year. Investors have shown increased confidence in Zebra's growth prospects, driving the stock to this new high. The company's innovative product line, which includes barcode printers and scanners, mobile computers, and various software solutions, continues to penetrate markets and expand its global footprint. This milestone underscores Zebra's strong performance and the positive sentiment surrounding its strategic direction and market position.
In other recent news, Zebra Technologies has been the focus of investors following its impressive second-quarter performance. The company exceeded consensus earnings per share (EPS) expectations by 13.5%, primarily due to a better top line and strong margin results. Zebra Technologies reported steady Q2 sales of $1.2 billion, with growth in healthcare and mobile computing. TD Cowen reaffirmed a Buy rating for the company, expecting a steady upward trajectory in the stock's performance, while Truist Securities maintained a Hold rating but increased the price target to $345 from $315.
The company's financial guidance has been revised upward, reflecting a strong quarter. The full-year sales for 2024 are now expected to increase by 4% to 7%, a rise from the earlier projection of 1% to 5%. Adjusted EPS estimates have been set to a range of $12.30 to $12.90, with a midpoint of $12.60, an increase following the second-quarter beat. Zebra has also raised its free cash flow (FCF) forecast by $100 million, now anticipating over $700 million for the year. These are the recent developments in Zebra Technologies' financial performance.
InvestingPro Insights
Zebra Technologies Corp. (ZBRA) has captured investor attention with its recent market performance. According to InvestingPro data, Zebra has a market capitalization of $19.18 billion, reflecting its significant presence in the industry. Despite a challenging environment with a revenue decline of 20.78% in the last twelve months as of Q2 2024, the company has maintained a gross profit margin of 46.52%, showcasing its ability to retain profitability in core operations.
An InvestingPro Tip highlights that Zebra's stock is trading at a high earnings multiple, with a P/E ratio recently recorded at 81.8, which is adjusted to 60.33 for the last twelve months as of Q2 2024. This indicates a premium valuation that investors are willing to pay for its earnings potential. Moreover, the stock's price movements have been quite volatile, suggesting that investors should be prepared for potential swings in market value. Nevertheless, Zebra has demonstrated a strong return over the last year, with a year-to-date price total return of 33.53% and a remarkable 62.96% return over the past year, signaling robust investor confidence.
For those interested in further insights, InvestingPro offers additional tips on Zebra Technologies, detailing aspects such as trading at a high EBIT valuation multiple and the stock's performance relative to its 52-week high. To explore these insights and more, investors can visit InvestingPro's dedicated page for Zebra Technologies at https://www.investing.com/pro/ZBRA.
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