Zebra Technologies Corporation Class A (ZBRA)

Zebra Technologies' stock has underperformed the S&P 500 Index by -23.78% over the past six months. In Q1 2025, Zebra Technologies announced strong results, with net sales of $1,308 million, an 11.3% year-over-year increase, and non-GAAP diluted EPS increased 42% year-over-year to $4.02, leading to a 5.2% climb in the stock price. The company reported strong demand that continued into the second quarter of 2025. Zebra Technologies is facing a projected $70 million gross profit impact from U.S. import tariffs for the full year 2025. The company repurchased $125 million worth of stock in Q1 2025 and an additional $75 million in April. In June 2025, Zebra Technologies unveiled its EM45 Android-Based Enterprise Mobile Computer and showcased new intelligent automation solutions. As of June 2025, analysts have a consensus "Moderate Buy" rating for ZBRA, with a mean price target indicating a potential upside of 10.3%.

Zebra Technologies benefits from a generally positive demand environment, driven by its global customer base and R&D capabilities. Digital transformation and e-commerce growth are key factors driving demand. Demand trends have been positive into the second quarter of 2025, carrying forward momentum from late 2024. The company reported strong demand in Q1 2025, with significant year-over-year sales increases. The manufacturing vertical has continued to lag behind other sectors. The company anticipates lower gross margins in the second half of 2025 due to the impact of tariffs.

Zebra Technologies Corporation is an American mobile computing company specializing in automatic identification and data capture (AIDC) technologies, providing enterprise asset intelligence solutions globally. The company operates in the Technology sector, specifically within the Communication Equipment industry, and is also categorized under Industrial Machinery/Components and Electronic Technology. Zebra Technologies helps organizations monitor, anticipate, and accelerate workflows by empowering their frontline and ensuring visibility, connectivity, and optimization of assets and workers. Its portfolio includes hardware, software, and services, segmented into Asset Intelligence & Tracking (AIT) and Enterprise Visibility & Mobility (EVM). Major products include printers, mobile computing devices, data capture solutions, location systems, software and solutions, and supplies. Zebra Technologies serves a diverse range of industries, including retail and e-commerce, healthcare, manufacturing, transportation and logistics, and the public sector.

Zebra Technologies has a significant global presence, with over 128 offices in 55 countries and more than 10,000 partners across 180 countries. The company's business presence spans the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Key regions with offices include Australia, Poland, Brazil, Canada, China, France, Germany, India, Japan, Mexico, Russia, the United Arab Emirates, and the United Kingdom. As of Q4 2023, Zebra Technologies maintained a global direct sales force of approximately 1,200 enterprise sales representatives covering these key regions.

Zebra Technologies is recognized as a global leader in enterprise visibility and data capture solutions, known for innovation and reliability. The company has been ranked on Forbes' list of America's Best Employers for three consecutive years. However, there have been some challenges to Zebra's brand reputation. A report scrutinized Zebra's claims of #1 market share positions, suggesting its leadership is being challenged. Concerns were raised about Zebra's acquisition spree since 2019, with some deals seen as potentially expensive failures. A press release regarding Walgreens saving millions with Zebra's software was retracted and revised. The United States Postal Service recognized Zebra Technologies with a Supplier Performance Award in June 2025.

Zebra Technologies is primarily owned by institutional shareholders, who hold approximately 89.05% of the company. Vanguard Group Inc. is the largest institutional owner, followed by BlackRock, Inc. Individual shareholders also play a role, with Gerhard Cless, a co-founder, being the largest individual shareholder. Zebra Technologies insiders own 11.69% of the company, and have shown net buying activity in the last 12 and 3 months.