Zebra Technologies Corporation (ZBRA) Stock Price & How to Invest

Zebra Technologies makes the barcode scanners, mobile computers, RFID systems and label printers used to track inventory and workers across warehouses, retail stores and hospitals. It sells mainly through channel partners to retailers, logistics operators, manufacturers and healthcare systems, and pairs the hardware with software for device management, workforce tools and machine vision. Trailing revenue is about $5.85 billion, with gross margin near 50% and a trailing operating margin near 21%.

Zebra's results have been shaped by a demand pull-forward and the correction that followed, which makes multi-year comparisons more useful than single quarters: revenue fell from about $5.79 billion in 2022 to $4.58 billion in 2023, then recovered to $4.98 billion in 2024 and $5.40 billion in 2025. The 2026 numbers show that recovery accelerating. Second-quarter revenue (quarter ended July 4) was about $1.56 billion, up roughly 20% year over year and about 4% above analyst expectations, and adjusted EPS of $6.35 beat the $4.38 consensus by a wide margin, after a first quarter of $4.75 against $4.25 expected. Management credited broad-based demand. The stock has rallied with the results, up about 42% over three months and 50% year to date, and analysts expect 2026 EPS of about $21 and revenue near $6.2 billion. Verify current order trends and inventory levels in the channel.

Demand is capital-spending driven and was heavily pulled forward during the e-commerce surge, which led to a sharp subsequent slowdown; the 2026 rebound could prove to be another cyclical peak rather than a new base. Retail and logistics customers cut equipment budgets quickly when their own demand softens. Competition is intense in scanning and printing hardware, and smartphone-based scanning erodes the low end of the market. The balance sheet carries about $2.96 billion of debt against roughly $157 million of cash. After a rally of about 50% in 2026, the shares trade near 34 times trailing earnings, so expectations are higher than they were a year ago, and analysts see EPS growth slowing to about 6% in 2027.

15 analysts publish price targets on ZBRA, averaging $414.85 against a $363.24 price as of November 2026, or +14.2%. The published targets run from $350.00 to $460.00, a narrow spread, and the ratings split 10 buy, 6 hold, 0 sell. Over the last six months there have been 12 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full ZBRA forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Zebra Technologies Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Warehouse and logistics automation. E-commerce fulfilment requires tracking every item through the supply chain, and Zebra's scanners and mobile computers are the tools workers use to do it. The most optimistic published target, $460.00, assumes this works close to its best case.

The case against. Demand is capital-spending driven and was heavily pulled forward during the e-commerce surge, which led to a sharp subsequent slowdown; the 2026 rebound could prove to be another cyclical peak rather than a new base. The most pessimistic target, $350.00, is roughly what ZBRA is worth if this bites instead.

Read the full bull and bear case on ZBRA, including what would have to change to break either one. Walnut is not an investment adviser.

No. Zebra Technologies Corporation (ZBRA) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Zebra Technologies Corporation's investor relations page or your broker.

• Revenue (TTM): ~$5.85 billion; Q2 2026 ~$1.56 billion, up ~20% year over year
• EPS (Q2 2026): $6.35 adjusted vs ~$4.38 expected
• Margins (TTM): ~50% gross, ~21% operating, ~9% net
• Net income (TTM): ~$539 million
• P/E (trailing / forward): ~34x / ~17x
• Market cap: ~$17.8 billion (share price ~$372.64 on Oct 16, 2026; 52-week range ~$199-391)
• Dividend: None
• Next earnings: November 3, 2026 (consensus EPS ~$4.91, revenue ~$1.57 billion)

The gap between a trailing P/E near 34 and a forward multiple near 17 is the recovery story in one number: GAAP earnings still carry the weaker 2025 quarters and acquisition-related costs, while forward adjusted earnings reflect the 2026 rebound. Zebra trades near 3 times trailing sales and about 17 times EBITDA, and the 15 analysts tracked by Yahoo carry a mean target near $415, with several firms (BNP Paribas, Barclays, Citigroup, Northcoast) raising targets in October 2026. Multi-year comparisons remain more useful than single quarters for a business this cyclical.

These are the investment theses ZBRA naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to ZBRA: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get ZBRA exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so ZBRA sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where ZBRA fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Zebra Technologies (ZBRA) is best understood through the automation theme it belongs to. Its results were shaped by a pandemic demand pull-forward and the correction that followed, and 2026 has looked like the recovery side of that cycle: revenue up about 20% in the second quarter, a large earnings beat, and a share price up roughly 50% for the year. Third-quarter results on November 3, 2026 will show whether that pace holds.

Whether ZBRA is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ZBRA a buy or a sell?, and where the stock could go from here in the ZBRA stock forecast.

For income investors, whether ZBRA pays a dividend and how the payout looks is covered in does ZBRA pay a dividend? And to weigh ZBRA against a peer, read the full side-by-side comparisons: ZBRA vs ROK and ZBRA vs EMR.