Zebra Technologies

ZBRA · NASDAQ

$384.08+$8.31 (+2.21%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $375.77

ZBRA analyst rating

BuyConsensus of 11 analysts over the last 12 months. 73% rate it a buy.

Strong buy0
Buy8
Hold3
Underperform0
Sell0

12-month price target · 19 analysts

Average $412.64 (+7.4% upside)

Low: $296.94
Now: $384.08
High: $477.75

Upgrades and downgrades

The latest rating actions, newest first

ZBRA analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 12, 2026	Maintains	Neutral	$396.00 → $400.00	63%
Barclays	Oct 12, 2026	Maintains	Overweight	$410.00 → $416.00	62%
Truist Securities	Oct 5, 2026	Maintains	Hold	$355.00 → $378.00	59%
Needham	Sep 15, 2026	Maintains	Buy	$410.00 → $435.00	47%
TD Cowen	Aug 5, 2026	Maintains	Buy	$400.00 → $450.00	59%
Citigroup	Aug 5, 2026	Maintains	Neutral	$306.00 → $396.00	80%
Truist Securities	Aug 5, 2026	Maintains	Hold	$296.00 → $355.00	59%
BNP Paribas	Aug 5, 2026	Maintains	Outperform	$370.00 → $455.00	58%
Keybanc	Aug 5, 2026	Maintains	Overweight	$305.00 → $430.00	77%
Barclays	Aug 5, 2026	Maintains	Overweight	$346.00 → $410.00	62%

The case for and against

Updated Oct 16, 2026

Bull case

Zebra Technologies is viewed positively because it combines a leading position in barcode scanners, mobile computers, RFID, and workflow software with end-market exposure to retail, transportation, manufacturing, and healthcare, all of which support recurring demand for automation and productivity tools. The company has also shown resilience by navigating tariffs and memory inflation well, while 1Q’26 results featured $1.495B of sales, 4.3% organic growth, 23.2% adjusted EBITDA margin, and a raised FY2026 organic growth outlook of 3–7%. Add to that the accretive Elo Touch acquisition, roughly $25MM of targeted annual EBITDA synergies by year 3, and strong free cash flow and buybacks, and the outlook is for expanding growth, margins, and investor confidence.

Bear case

Zebra Technologies is facing a fundamentally pressured outlook because its sales are exposed to weak capital spending across retail, transportation logistics, manufacturing, and healthcare, while risks from a delayed refresh cycle, weaker demand in major end markets, and increased competition could further slow growth. The company also faces notable concentration risk, with the top three distributors representing 50% of sales, making performance more vulnerable if customer budgets soften or competitive share erodes. Profitability is being squeezed by higher memory costs, normalized mix pressure, and ongoing supply chain, tariff, and acquisition-integration risks, even as adjusted EBITDA margin remained only slightly above 21%.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.