Trimble

TRMB · NASDAQ

$62.12+$2.17 (+3.62%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $59.95

TRMB analyst rating

BuyConsensus of 8 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy8
Hold0
Underperform0
Sell0

12-month price target · 14 analysts

Average $80.04 (+28.8% upside)

Low: $61.61
Now: $62.12
High: $98.70

Upgrades and downgrades

The latest rating actions, newest first

TRMB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 8, 2026	Maintains	Overweight	$76.00 → $75.00	53%
Barclays	Aug 19, 2026	Maintains	Overweight	$79.00 → $80.00	62%
Bernstein	Aug 13, 2026	Maintains	Outperform	$85.00 → $73.00	53%
JP Morgan	Aug 13, 2026	Maintains	Overweight	$75.00 → $76.00	53%
Piper Sandler	Aug 13, 2026	Maintains	Overweight	$87.00	41%
Wells Fargo	Jul 14, 2026	Maintains	Overweight	$70.00 → $61.00	54%
JP Morgan	Jul 13, 2026	Maintains	Overweight	$88.00 → $75.00	53%
Oppenheimer	Jul 7, 2026	Maintains	Outperform	$80.00	55%
Barclays	May 29, 2026	Maintains	Overweight	$103.00 → $79.00	62%
Wells Fargo	May 7, 2026	Maintains	Overweight	$79.00 → $70.00	54%

The case for and against

Updated Oct 17, 2026

Bull case

Trimble is well positioned because 1Q26 demonstrated durable core demand, with revenue of $972M beating consensus by $22M and ARR reaching $2.509B, up 12% organically as-adjusted. Its outlook is strengthened by broad-based segment resilience, as AECO and Field Systems each grew organic ARR 14% and 12%, while Transportation & Logistics still posted 7% growth despite moderating from the prior quarter. Profitability is also improving, with adjusted EBITDA of about $278M and margins of 28.6%, plus FY26 guidance raised to 7%-9% organic revenue growth, reaffirmed 12%-14% organic ARR growth, and a tightened EBIT margin range.

Bear case

Trimble is facing a more cautious valuation backdrop, as the lower target of $87 from $97 reflects a reduced terminal multiple of 18x FCF versus 20x previously, driven by continued compression in software multiples. This suggests that even with its AECO, Field Systems, and Transportation and Logistics businesses, the market is applying less value to future cash flow generation, likely due to weaker confidence in durable growth and profitability. The outlook is negative because the core investment thesis is being pressured by declining sector multiples rather than improving fundamentals, which points to limited upside until software valuations stabilize.

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