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Zebra Technologies now carries a refreshed fair value estimate of US$336.38, slightly below the prior US$339.24, signalling a modest reset in what some analysts are willing to pay for the shares. That shift lines up with a split Street view, where higher targets up to US$368 sit alongside trims into the low US$300s as firms weigh growth, margins and execution risk differently. As you read on, you will see how to interpret these moving targets and keep your own expectations aligned with the evolving narrative around Zebra.

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• Morgan Stanley lifted its price target on Zebra Technologies to US$323, citing an outlook that points to a potential reacceleration in 2026 after earlier concerns around organic growth following the Q3 print.

• Barclays raised its target to US$368 in January as part of a broader 2026 industrial technology and distribution outlook, highlighting positive views on end markets such as data centers, factory and warehouse automation, electronics, test and measurement, and semiconductors.

• Barclays also cut its Zebra price target by US$17 in early February and later by US$21, which points to ongoing debate around how the company will execute against its opportunities and how that should be reflected in valuation.

• The Equal Weight rating at Morgan Stanley, even with the higher US$323 target, reflects a more balanced stance. In this view, potential growth and margin improvement are weighed against recent organic growth concerns.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there’s more to the story. Head to the Simply Wall St Community to discover more perspectives!

We’ve flagged 1 risk for Zebra Technologies. See which could impact your investment.

• Zebra issued earnings guidance for first quarter 2026 and full year 2026, with expected sales growth ranges of 11% to 15% for the quarter and 9% to 13% for the year. This includes estimated contributions from acquisitions and foreign currency translation of about 10 points and 7 points respectively.

• The Board authorized a new share repurchase plan of up to US$1,000m with no expiration date. This adds to an existing program through which Zebra has used US$841.85m to repurchase 3,082,195 shares, or 6.04% of the share base, by early 2026.

• Zebra is expanding its AI and automation reach, with EBI Electric using its AltiZ 3D sensors and Aurora Imaging Library in the Inspector T lumber scanning system. The system targets up to 5% more usable wood and potential annual cost savings around US$750,000 for some users.

• The company plans a broad retail tech presence at NRF 2026, featuring new TC501 and TC701 handhelds, an ET401 enterprise tablet with integrated RFID, Salesforce Retail Cloud POS, a device rental service, and updates to Zebra Workcloud Sync and Task Management. This is alongside new customer deployments and certifications across retail and public safety.