The biggest gainers of the session on the Wall Street include Zebra Technologies Corporation (NASDAQ:ZBRA), which rose 7.81 points or 4.05% to trade at $200.8 as last check. The stock closed last session at $192.99 and sets an active trading volume day with a reported 281100 contracts so far this session. ZBRA shares had a relatively better volume day versus average trading capacity of 636.59 thousand shares, but with a 53.38 million float and a -0.78% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ZBRA stock indicates that the average analyst price target is $234.29 per share. This means the stock has a potential increase of 16.68% from where the ZBRA share price has been trading recently which is between $190.15 and $193.345. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $189.
The shorts are climbing into Zebra Technologies Corporation (ZBRA) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in ZBRA shares. While short interest still represents only 2.96% of ZBRA’s float, the number of shares shorted have risen by 618076. The number of shares shorted advanced to 2196883 shares, up from 1578807 shares during the preceding fortnight. With average daily trading volumes at 1078960 shares, days to cover decreased to about 2.139612 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Zebra Study: Six in 10 Plan Warehouse Automation to Augment Labor by 2024” and dated June 18, 2019.
During the recent trading session for Zebra Technologies Corporation (NASDAQ:ZBRA), the company witnessed their stock rise $8.76 over a week and surge $27.56 from the price 20 days ago. When compared to their established 52-week high of $237.15, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 04/24/19. The recent low of $136.16 stood for a -15.33% since 07/31/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.54 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Zebra Technologies Corporation, the two-week RSI stands at 59.04. This figure suggests that ZBRA stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ZBRA readings is similarly very revealing as it has a stochastic reading of 87.45% at this stage. This figure means that ZBRA share price today is being oversold.
Technical chart claims that Zebra Technologies Corporation (ZBRA) would settle between $194.17/share to $195.36/share level. However, if the stock price goes below the $190.98 mark, then the market for Zebra Technologies Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $188.97 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.77. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Wellington Shields raised their recommendation on shares of ZBRA from Gradually Accumulate to Buy in their opinion released on May 30. Imperial Capital analysts again handed out a Outperform recommendation to Zebra Technologies Corporation (NASDAQ:ZBRA) stock but they lifted target price for the shares in a flash note issued to investors on May 02. The target price has been raised from $225 to $230. Analysts at Needham are sticking to their Buy stance. However, on March 07, they lifted price target for these shares to $225 from $215.
ZBRA equity has an average rating of 1.78, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Zebra Technologies Corporation (NASDAQ:ZBRA) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ZBRA stock price is currently trading at 14.17X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.42 while for the average stock in the same group, the multiple is 1.84. Zebra Technologies Corporation current P/E ratio of 24.64 means it is trading at a premium against its industry’s 21.67. In the past 5 years, this ratio for the stock has been fluctuating between 20.68 and 122.65.
Zebra Technologies Corporation (ZBRA)’s current-quarter revenues are projected to climb by nearly 8.11% to hit $1.09 billion, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 6.9% from $4.22 billion to a noteworthy $4.51 billion. At the other end of the current quarter income statement, Zebra Technologies Corporation is expected to see its adjusted earnings surge by roughly 16.94% to hit $2.9 per share. For the fiscal year, ZBRA’s earnings are projected to climb by roughly 14.44% to hit $12.6 per share.