Zebra Technologies Corp (ZBRA)

Zebra Technologies Corporation (ZBRA) dropped by 5.46% from $209.43 to $197.99 in the trading on Wednesday November 1, 2023. The reason why ZBRA stock down today include

• Missed outlook for the fourth quarter: Zebra expects to earn an adjusted $1.60 a share on sales of $992 million. Wall Street had been looking for earnings of $1.69 a share on sales of $1.02 billion. Zebra continues to face challenges from weaker demand and distributor destocking as customers scale back budgets and work through elevated inventory levels.
• Lower price target by analysts: Stephens & Co analyst Tommy Moll reiterated Zebra Technologies with an Overweight and lowered the price target from $350 to $300. Additionally, Needham analyst James Ricchiuti maintained Zebra with a Buy and lowered the price target from $285 to $255.

Shares of Zebra Technologies (ZBRA) were falling 17.27% to $254.77 today after it posted disappointing results in its second-quarter earnings report. Revenue in the quarter was down 17.3% to $1.21 billion as the company continued to struggle with softening demand and cautious consumer spending in the retail and logistics end markets.

https://www.fool.com/investing/2023/08/01/why-zebra-technologies-stock-was-tumbling-today/