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Zebra Technologies Corp. (ZBRA) stock has reached a new 52-week high, touching $413.58 in a remarkable display of market confidence. With a market capitalization of $21.3 billion, the company maintains a strong position in the technology sector, as highlighted by InvestingPro data. This peak represents a significant milestone for the company, known for its innovative tracking technology and solutions. Over the past year, Zebra Tech (NASDAQ:ZBRA) has seen an impressive 61.94% change in its stock price, reflecting strong investor optimism and robust financial performance. Trading at a P/E ratio of 55.31, the stock appears to be trading above its Fair Value according to InvestingPro's comprehensive analysis. The company's ability to adapt and thrive in a rapidly evolving tech landscape has contributed to this upward trend, signaling a positive outlook for future growth and market position. Discover more insights and 12 additional ProTips for ZBRA in the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Zebra Technologies has announced several key developments. The company reported robust Q3 growth, with sales reaching nearly $1.3 billion, a 31% increase year-on-year, and non-GAAP diluted earnings per share of $3.49, a 300% rise from the previous year. Zebra Technologies also raised its full-year outlook, expecting continued growth in sales and adjusted EBITDA margins.
Zebra Technologies has also revealed plans to acquire Photoneo, a top developer of 3D machine vision technology, aiming to bolster its presence in the growing machine vision market. This strategic move is expected to yield a comprehensive suite of solutions for complex use cases across various sectors.
In analyst news, Zebra Technologies' stock rating has been upgraded from Underweight to Equalweight by Morgan Stanley (NYSE:MS), citing the company's recovery in retail and distribution capital expenditure. Citi research firm has also initiated coverage on shares of Zebra Technologies, setting a Neutral rating due to the company's solid market position and potential benefits from long-term trends in automation and digitization.
These recent developments highlight Zebra Technologies' commitment to growth and innovation, as well as the positive outlook held by various analyst firms.
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