Zebra Technologies (ZBRA), a maker of enterprise systems for tracking inventory and other important assets, on Tuesday trampled Wall Street’s targets for the second quarter. Zebra stock jumped in early trading.
The Lincolnshire, Ill.-based company earned an adjusted $4.57 a share on sales of $1.38 billion in the June quarter. Analysts expected Zebra earnings of $4.12 a share on sales of $1.35 billion, according to FactSet. In the year-earlier period, Zebra earned $2.41 a share on sales of $956 million.
In pre-market trading on the stock market today, Zebra stock rose 2%, near 562.
On June 3, Zebra stock broke out of a cup-with-handle base at a buy point of 508.43, according to IBD MarketSmith charts. In the weeks that followed, Zebra stock traded in and out of the 5% buy zone. Twice it pulled back and bounced off its 50-day moving average line, a positive sign.
Zebra stock is now extended beyond the 5% chase zone. On Monday, it notched an all-time high of 558.68 in intraday trading.
Zebra stock is on IBD’s Stock Spotlight list.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
YOU MAY ALSO LIKE: