ZBRA
Zebra Technologies Corporation
NASDAQ: ZBRA · TECHNOLOGY · COMMUNICATION EQUIPMENT
$216.96
-5.45% today
Updated 2026-06-05
Market cap
$10.88B
P/E ratio
27.62
P/S ratio
1.95x
EPS (TTM)
$8.27
Dividend yield
—
52W range
$199 – $353
Volume
1.0M
Zebra Technologies Corporation (ZBRA) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed ZBRA price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$216.96
Today
Analyst consensus
$328.88
+51.59% · 12M
2030 Base
$602.23
+177.58% future
NPV today
$339.41
@ 13% WACC
18 analysts:
10 Buy4 Hold0 Sell
Management guidance
CEO Bill Burns and management raised FY2026 revenue guidance to $6.06B (12.3% growth from $5.40B in 2025) following strong Q1 2026 results ($1.50B, +14.3% YoY). Management emphasized accelerating automation demand, AI-powered workflow solutions, and robust backlog supporting continued double-digit growth through 2027. No specific 2027+ targets disclosed, but guidance implies sustained 8-12% annual growth minimum through near term.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
ZBRA · Zebra Technologies Corporation · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$254.52
NPV today: $143.44
Base case (2030)
$602.23
NPV today: $339.41
Bull case (2030)
$988.58
NPV today: $557.15
WallStSmart.com
ZBRA financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $5.4B | $6.1B | $6.9B | $7.8B | $8.7B | $9.5B |
| Revenue growth | 8.3% | 12.3% | 13.5% | 13.0% | 11.5% | 10.1% |
| Net margin | — | 14.7% | 14.9% | 15.1% | 15.0% | 14.8% |
| EPS | $14.44 | $18.54 | $21.15 | $24.08 | $26.42 | $28.64 |
| Diluted shares | — | 48M | 48M | 49M | 49M | 49M |
| Net debt | — | $2.10B | $1.43B | $663.65M | $-186.51M | $-1.12B |
| P/S multiple | — | 2.0x | 3.0x | 3.0x | 3.0x | 3.0x |
| Implied price (base) | — | $208.46 | $396.72 | $464.88 | $533.42 | $602.23 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $9.5B | $9.5B | $9.5B |
| P/S multiple | 1.2x | 3.0x | 5.0x |
| Diluted shares | 49M | 49M | 49M |
| Net debt | $-1.12B | $-1.12B | $-1.12B |
| Implied P/E † | 9x | 21x | 35x |
| 2030 Price | $254.52 | $602.23 | $988.58 |
| NPV @ 13% | $143.44 | $339.41 | $557.15 |
† Implied P/E: Multiples remain elevated across all three scenarios because ZBRA is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $602.23 base case
ZBRA catalysts and risks
Growth catalysts
+ AI-powered workflow automation adoption acceleration across supply chain, healthcare, and frontline worker segments
+ Hyperscaler capex expansion (Meta, Microsoft, Amazon) driving demand for mobile computing, scanning, and vision systems
+ Strategic partnerships and software portfolio expansion (Zebra Workcloud, DNA platforms) expanding recurring SaaS revenue and margin profile
+ Market share gains in high-growth automation verticals where Zebra is category leader with 30-40% market share
Key risks
- Macro recession or customer capex pullback reducing automation investment velocity in 2027-2028
- Intense competition from Honeywell, Cognex, and emerging Chinese vendors eroding pricing power and market share
- Supply chain disruption or component cost inflation pressuring gross margins (currently 46-48%)
- Execution risk on software-as-a-service transition; SaaS adoption rates below forecast could limit recurring revenue growth
Methodology · Zebra Technologies Corporation 2030 stock forecast model
Zebra Technologies Corporation 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 18 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (4% cumulative for ZBRA by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-1.12B by 2030) |
| 3. Time value | NPV calculated using 13% WACC (CAPM: beta 1.624) |
| 4. Multiple framework | P/S compresses with scale: bear 1.2x / base 3.0x / bull 5.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: June 8, 2026.
ZBRA price target FAQ
What is the ZBRA price target for 2030?
WallStSmart's Zebra Technologies Corporation 2030 base case is $602.23 per share, with a bull case of $988.58 and bear case of $254.52. The NPV of the base case discounted to today at 13% WACC is $339.41.
How is the Zebra Technologies Corporation 2030 stock forecast calculated?
The ZBRA 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the ZBRA price target account for dilution?
Zebra Technologies Corporation is projected to grow diluted share count from 48M to 49M by 2030 (a 4% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 4%.
What is the analyst consensus on ZBRA stock?
18 analysts cover ZBRA with an average 12-month price target of $328.88. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.