Zebra Technologies (ZBRA) Valuation: Assessing Upside Potential After Recent Share Price Weakness

Zebra Technologies (ZBRA) has had a choppy run lately, with the stock sliding over the past 3 months even as revenue and net income keep growing. This sets up an interesting valuation debate.

See our latest analysis for Zebra Technologies.

Zooming out, the stock’s recent 7 day and 90 day share price declines sit against a much steeper year to date slide. At the same time, the 3 year total shareholder return is only slightly positive, suggesting momentum has been fading even as fundamentals improve.

If Zebra’s mixed momentum has you reconsidering your options, this could be a good moment to explore other high growth tech names using high growth tech and AI stocks.

With revenue and profits still climbing, analysts seeing upside to the current share price, and the stock now trading at a notable discount, is this a rare buying window, or are markets already pricing in Zebra’s future growth?

Most Popular Narrative: 29.8% Undervalued

With Zebra Technologies closing at $251.65 against a narrative fair value near $358, the current gap hinges on bullish earnings and margin assumptions.

The accelerating shift toward automation, digital transformation, and real-time workflow optimization driven by ongoing labor shortages, e-commerce expansion, and increased supply chain demands, continues to fuel robust demand for Zebra's portfolio (hardware, software, RFID, machine vision), supporting sustained revenue growth and long-term earnings visibility.

The strategic acquisition of Elo expands Zebra's addressable market by approximately $8 billion, enhances its presence in customer-facing automation and self-service technologies, and provides significant cross-selling and global distribution synergies, which are expected to be immediately accretive to earnings and bolster long-term revenue growth.

Read the complete narrative.

Curious how steady revenue growth, higher margins, and a premium future earnings multiple all combine to suggest upside from here? Explore the full narrative to see which assumptions really drive that valuation call.

Result: Fair Value of $358.47 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, lingering tariff uncertainty and a slower than hoped shift toward higher margin software could easily derail those upbeat margin and earnings assumptions.

Find out about the key risks to this Zebra Technologies narrative.

Build Your Own Zebra Technologies Narrative

If you see the story differently or want to dig into the numbers yourself, you can build a custom narrative in just a few minutes: Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Zebra Technologies.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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