Robert W. Baird Upgrades Zebra Technologies (NASDAQ: ZBRA) to Outperform with $310 Price Target

Font: Financial Modeling Prep  • May 13, 2026

• Robert W. Baird has upgraded Zebra Technologies (NASDAQ: ZBRA) to an Outperform rating, setting a new price target of $310.00.
• The upgrade follows Zebra Technologies' strong first-quarter 2026 financial results, which surpassed analyst expectations for both adjusted earnings per share and total revenues.
• Despite facing supply-side challenges related to memory chip costs, Zebra Technologies has raised its full-year sales growth forecast, reflecting confidence in its future market performance.

Robert W. Baird upgrades Zebra Technologies (NASDAQ: ZBRA) to Outperform from Neutral, setting a price target of $310.00. Zebra Technologies is a leading provider of asset-tracking and data management solutions. The company offers innovative technology like barcode scanners and printers, empowering businesses to automate operations and efficiently track their products.

The new price target represents a potential upside of 28.21% from the stock's trading price of $241.79 at the time of the upgrade. This positive outlook from the analyst firm reflects strong confidence in Zebra Technologies' future performance and its strategic position in the market automation sector.

This significant upgrade follows Zebra Technologies' strong first-quarter 2026 results. The company's report shows adjusted earnings of $4.75 per share. This figure is higher than the Zacks Consensus Estimate of $4.21, indicating better-than-expected profitability for the period.

The company’s total revenues for the quarter are $1.5 billion, a 14.3% increase from the previous year. This also beats the consensus estimate of $1.47 billion. As highlighted by Reuters, this robust revenue growth is driven by strong demand for products that automate manufacturing workflows and enhance operational efficiency.

Following these impressive results, Zebra Technologies raises its full-year sales growth forecast to between 10% and 14%. As highlighted by The Motley Fool, shares climbed as much as 19.5% after the news. However, the company acknowledges it faces ongoing supply-side challenges from the high cost of memory chips, a common hurdle in the current technology landscape.