Zebra Technologies’ (ZBRA) share price has surged 37.9% so far this year on the back of increased demand for its industrial automation solutions and enhanced product offerings. And because the company is now planning a strategic acquisition to accelerate its push into robotic solutions, we think its stock should keep rallying. Read on.Global enterprise mobile computing company Zebra Technologies Corporation (ZBRA) offers enterprise asset intelligence solutions worldwide. The Lincolnshire, Ill., company operates through Asset Intelligence & Tracking (AIT) and Enterprise Visibility & Mobility (EVM) segments. A strong recovery in global business demand, as well as increasing spending by organizations on digitization and automation, have helped the company deliver strong results in the first quarter of 2021. ZBRA’s organic net sales increased 26.8% year-over-year in its EVM segment and 21.4% in its AIT segment in its last reported quarter.
The stock has advanced 4% over the past month and 37.9% year-to-date. Closing yesterday’s session at $530.14, ZBRA is trading just 3.6% below its 52-week high of $549.98. The company’s management expects its net sales to increase by 38% - 42% from the prior-year period in the second quarter of 2021 as industries prioritize spending on advanced analytics. Given its strong momentum, we think ZBRA is poised to climb further in the near term.
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