Jefferies Initiates Zebra Technologies (ZBRA) at Buy With $382 Price Target

Jefferies initiated coverage on Zebra Technologies Corporation with a Buy rating and established a $382 price target. According to Tipranks, the brokerage firm assessed adjusted EBITDA margins of roughly 22% as defensible for the company. Jefferies also projected approximately 8% topline revenue growth for fiscal 2027.

Following the brokerage update, shares of the enterprise data capture company climbed 3.5% in afternoon trading before settling at $332.38, a gain of 3.4% from the previous close. The stock is up 33.9% since the beginning of the year, though it trades 15% below its 52-week peak of $391 reached in October 2026.

Other Wall Street analysts have recently updated their views on the stock. TD Cowen analyst Itay Michaeli maintained a Buy rating with a $450.00 price target. KeyBanc analyst Kenneth Newman also issued a Buy rating, while Citi maintained a Hold rating on the shares.

The analyst coverage follows third-quarter earnings results for the period ending October 3, where total sales exceeded $1.6 billion, representing a 22.3% year-over-year increase and 11.3% organic growth. Net income reached $164 million, compared to $101 million in the prior-year period, while non-GAAP diluted earnings per share hit $4.95.

Zebra also raised its full-year outlook, targeting approximately 17% sales growth and non-GAAP diluted earnings per share of $21.20 at the midpoint. However, management noted headwinds, including a year-on-year memory cost increase of greater than $50 million in the third quarter, with full-year memory costs expected to reach approximately $145 million.