Trimble Stock (NASDAQ:TRMB), Trade Ideas

Trimble

Trimble Inc provides a technology solutions provider that enables office and mobile professionals to connect their workflows and asset lifecycles to drive a more productive, sustainable future. The company has four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The company generates the majority of its revenue from the Buildings and Infrastructure segment, which primarily serves customers working in architecture, engineering, construction, design, asset management, operations, and maintenance.

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TRMB

The March 26 collapse of the Francis Scott Key Bridge in Baltimore has significantly disrupted U.S. East Coast supply chains.

Ocean Freight Rates Steady Despite Baltimore Bridge Collapse

Short Ideas

Insider Trades

Pre-Market Outlook

The Nasdaq 100 closed higher by around 300 points on Thursday. Investors, meanwhile, focused on some notable insider trades.

Best Buy, Box And 2 Other Stocks Insiders Are Selling

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ARKK

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RXRX

Cathie Wood&#39;s Ark Invest Continues To Double Down On Moderna, Sells Nvidia Shares

Trimble Inc

As one of the largest forest owners in&nbsp;Sweden, Holmen is committed to become more data-driven in its forestry operations

Swedish Forestry Company Holmen Selects Trimble's Connected Forest Management System

<div>The March 26 collapse of the Francis Scott Key Bridge in Baltimore has significantly disrupted U.S. East Coast supply chains. However, ocean freight container shipping rates have remained relatively stable, according to Xeneta, an ocean freight rate benchmarking and intelligence platform.</div>

Xeneta's data reveals that average spot rates from the Far East to the East Coast, including Baltimore, have fallen by 1% since the bridge collapse, standing at $5,421 per forty-foot equivalent unit. When considering other U.S. East Coast ports, such as New York/New Jersey, rates from the Far East have decreased by 3% in the same period. Similarly, average spot rates from Northern Europe to the East Coast have fallen by 8% to $2,357 per FEU, with a 4% decrease when including other U.S. East Coast ports.

"Spot rates have not reacted but that doesn't mean shippers with cargo heading to Baltimore are not affected" said Peter Sand, chief analyst at Xeneta, in a blog post. "On the contrary they are seeing containers arriving at ports they were not expecting."

The majority of containers will now be handled at New York/New Jersey, Sand said, as many ships originally bound for Baltimore would have been stopping there anyway. This could be a reason why rates have not significantly increased.

Despite the stability in ocean freight rates, the bridge collapse adds to the numerous challenges shippers face currently, including ongoing diversions in the Red Sea region and drought in the Panama Canal.

<h2 id="h-truck-rerouting-and-ship-diversions">Truck rerouting and ship diversions</h2>

The logistics industry has quickly adapted to the new reality. Telematics company Trimble (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trmb#NASDAQ">TRMB</a>) reported significant shifts in truck routes around Baltimore, with the Fort McHenry Tunnel on Interstate 95 experiencing the largest diversion. The Baltimore Harbor Tunnel saw less uptake due to its narrower configuration.

While these rerouting efforts demonstrate the industry's adaptability, they also introduce challenges such as extended travel times and potential bottlenecks. Hazmat transports, in particular, face more pronounced adjustments, with an additional 15 to 20 minutes added to their journeys as they divert to the western side of Baltimore on Interstate 695.

On the maritime front, initial data has not yet revealed significant shifts in ship routing or port calls, according to logistics management platform GoComet. Seasonal variations in maritime shipping further compound the ambiguity about how deep the impact really is.

<h2 id="h-impact-on-east-coast-ports-and-future-outlook">Impact on East Coast ports and future outlook</h2>

The Port of Baltimore issued an update on Friday, stating that it expects to open a 280-foot-wide and 35-foot-deep federal navigation channel by the end of April, followed by the reopening of the permanent 700-foot-wide and 50-foot-deep channel by the end of May, restoring port access to normal capacity.

While this timeline for reopening maritime lanes is welcome news for shippers, Sand believes that importers into the U.S. East Coast could face further disruptions in 2024 due to labor negotiations. The contract between the International Longshoremen's Association and the United States Maritime Alliance expires Sept. 31, and no new agreement has been reached.

"The threat of labor strikes on the East Coast has the potential to cause far more disruption to ocean freight shipping than the collapse of the Francis Scott Key Bridge" Sand said.

If the two don't reach an agreement, there could be significant and widespread disruption at East Coast ports, Sand added, likely leading to increased ocean freight container service rates and potentially prompting some shippers to reroute to the U.S. West Coast or Mexico for imports.

The post <a href="https://www.freightwaves.com/news/ocean-freight-rates-steady-despite-baltimore-bridge-collapse">Ocean freight rates steady despite Baltimore bridge collapse</a> appeared first on <a href="https://www.freightwaves.com">FreightWaves</a>.

Piper Sandler analyst Clarke Jeffries reiterates Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) with a Overweight and maintains $73 price target.

Price Target

Reiteration

Analyst Ratings

Piper Sandler Reiterates Overweight on Trimble, Maintains $73 Price Target

Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) announced today that it will change the reporting of its segment financial results to better reflect the Company's organizational structure and business models. Starting with first quarter 2024 results, Trimble will report revenue and operating income based on three operating segments as follows:
<ul>
<li>Architects, Engineers, Construction and Owners ("AECO"). This segment primarily provides software solutions, which sell through a direct channel to customers in the construction industry.</li>
<li>Field Systems. This segment primarily includes hardware-centric businesses, which sell through dealer partner channels.</li>
<li>Transportation and Logistics ("T&amp;L"). This segment will primarily maintain the historical businesses from the previous Transportation segment, which serves customers working in long haul trucking and freight shipper markets.</li>
</ul>

Trimble To Change Reporting Of Financial Segments, To Include 'Architects, Engineers, Construction and Owners,' 'Field Systems,' And 'Transportation And Logistics'

The Nasdaq 100 closed higher by around 300 points on Thursday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company&rsquo;s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Best Buy </h3>
<ul>
<li>The Trade: Best Buy Co., Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bby#NYSE">BBY</a>) SVP, Controller &amp; CAO Mathew Watson <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 3,520 shares </a> at an average price of $82.43. The insider received around $290,154 from selling those shares.</li>
<li>What&rsquo;s Happening: Best Buy Co. Alphabet&rsquo;s Google Cloud, and Accenture Plc have entered into a new collaboration to deploy generative AI (gen AI) to improve the experience for Best Buy customers.</li>
<li>What Best Buy Does: With $43.5 billion in consolidated 2023 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., boasting roughly 8.3% share of the North American market and north of 33% share of offline sales in the region, per our calculations, CTA, and Euromonitor data.</li>
</ul>
Have a look at our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Box</h3>
<ul>
<li>The Trade: Box, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>) CFO Dylan C Smith <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 13,000 shares </a> at an average price of $27.30. The insider received around $354,900 from selling those shares.</li>
<li>What&rsquo;s Happening: On March 20, RBC Capital analyst Rishi Jaluria reiterated Box with an Underperform and maintained a $21 price target.</li>
<li>What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.</li>
</ul>
<h3>Trimble </h3>
<ul>
<li>The Trade: Trimble Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trmb#NASDAQ">TRMB</a>) President and CEO Robert G Painter <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 3,500 shares </a> at an average price of $62.50. The insider received around $218,750 from selling those shares.</li>
<li>What&rsquo;s Happening: On April 2, Piper Sandler analyst Clarke Jeffries maintained Trimble with an Overweight and maintained a $73 price target.</li>
<li>What Trimble Does: Trimble Inc provides a technology solutions provider that enables office and mobile professionals to connect their workflows and asset lifecycles to drive a more productive, sustainable future.</li>
</ul>
<h3>MongoDB </h3>
<ul>
<li>The Trade: MongoDB, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdb#NASDAQ">MDB</a>) Director Dwight A Merriman <a href="https://www.benzinga.com/sec/insider-trades/"> sold a total of 2,000 shares </a> at an average price of $365.00. The insider received around $730,000 from selling those shares.</li>
<li>What&rsquo;s Happening: MongoDB expanded its collaboration with Google Cloud.</li>
<li>What MongoDB Does: Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users. MongoDB provides both licenses as well as subscriptions as a service for its NoSQL database.</li>
</ul>
&nbsp;
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Across the recent three months, 8 analysts have shared their insights on Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $65.38, a high estimate of $73.00, and a low estimate of $51.00. Surpassing the previous average price target of $56.00, the current average has increased by 16.75%.
<img src="https://www.benzinga.com/files/images/story/2024/1712059250_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Trimble. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$73.00</td>
<td>-</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$72.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$73.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Richard Eastman</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$68.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$56.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$51.00</td>
<td>$42.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Trimble. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Trimble compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
To gain a panoramic view of Trimble's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/TRMB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Trimble analyst ratings.</a>
<h2>About Trimble</h2>
Trimble Inc provides a technology solutions provider that enables office and mobile professionals to connect their workflows and asset lifecycles to drive a more productive, sustainable future. The company has four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The company generates the majority of its revenue from the Buildings and Infrastructure segment, which primarily serves customers working in architecture, engineering, construction, design, asset management, operations, and maintenance.
<h3>Breaking Down Trimble's Financial Performance</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Growth: Trimble's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 8.86%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Trimble's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 6.76%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Trimble's ROE excels beyond industry benchmarks, reaching 1.42%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.67%, the company showcases effective utilization of assets.
Debt Management: Trimble's debt-to-equity ratio surpasses industry norms, standing at 0.71. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What Analysts Are Saying About Trimble Stock

Piper Sandler analyst Clarke Jeffries maintains Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) with a Overweight and maintains $73 price target.

Piper Sandler Maintains Overweight on Trimble, Maintains $73 Price Target

Leading ag tech deal creates an industry-leading, mixed-fleet&nbsp;precision ag platform serving farmers globally
DULUTH, Ga. and WESTMINSTER, Colo., April 1, 2024 /PRNewswire/ -- AGCO Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>) and Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) today announced the closing of their joint venture (JV) transaction. The JV, known as PTx Trimble, combines Trimble's precision agriculture business and AGCO's JCA Technologies to form a new company that will better serve farmers with factory fit and retrofit applications in the mixed-fleet precision agriculture market.
AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake. Going forward, the PTx Trimble JV will be consolidated into AGCO's financial statements.
"Farmers worldwide need technologies that support them to be more productive and profitable while minimizing the environmental impact of their operations," said Eric Hansotia, AGCO's Chairman, President and Chief Executive Officer. "PTx Trimble will provide farmers greater access to next-generation precision ag tools, no matter what brands of tractors and implements they operate."
The formation of PTx Trimble enhances AGCO's comprehensive technology offering around guidance, autonomy, precision spraying, connected farming, data management and sustainability.
"Farmers are the real winners here," said Rob Painter, Trimble's President and Chief Executive Officer. "By combining our expertise and resources through this JV, we aim to accelerate the pace of innovation. With a focus on open technologies, customers will benefit from tech solutions available to farmers across a broad range of tractor and implement brands."
AGCO's consolidated precision ag revenue is now expected to exceed $2.0 billion by 2028, and the transaction is expected to be accretive to AGCO's revenue growth, adjusted operating margin profile and adjusted earnings per share in the first full year post-close.
AGCO financed the transaction through a combination of $1.1 billion in recently issued senior unsecured notes, a $500 million term loan facility, other borrowings and cash on hand.

Contracts

AGCO

AGCO And Trimble Close Joint Venture, Form PTx Trimble To Serve Farmers With Factory Fit And Retrofit Applications In The Mixed-Fleet Precision Agriculture Market

On Tuesday, Cathie Wood&#8217;s Ark Invest made a significant move by increasing its stake in Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), a leading COVID-19 vaccine maker. This move comes amidst a series of upcoming catalysts for the biotech firm.
The MRNA Trade
Ark Invest, through its flagship Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), purchased a whopping 72,800 shares of Moderna. Based on the closing price of $107.41 on the same day, the value of this trade stands at approximately $7.82 million. This move indicates a strong belief in the biotech firm&#8217;s potential, as Ark Invest has been <a href="https://www.benzinga.com/general/biotech/24/03/37864820/is-cathie-wood-buying-the-rumor-ark-more-than-doubles-stake-in-this-covid-19-vaccine-maker-ahead-">consistently increasing</a> its holdings in Moderna throughout March.
The buying spree reflected Ark&#8217;s confidence in Moderna&#8217;s diversified pipeline beyond its mRNA COVID-19 vaccine, including a next-gen COVID-19 vaccine and other promising candidates. With expectations of vaccine approvals and upcoming investor events, Ark appears to be anticipating further growth potential despite Moderna&#8217;s recent market performance.
Over 12 months Moderna stock has declined 26.89%, however, since 2024 started the stock has gained 8%.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37926460/bitcoin-touches-70k-again-ethereum-dogecoin-bounce-upward-as-crypto-market-recovers-analys?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Touches $70K Again, Ethereum, Dogecoin Bounce Upward As Crypto Market Recovers: Analyst Says If Rally Resumes, King Crypto Could Retest All-Time Highs</a> 
Other Key Trades:
<ul>
<li>The ARKG fund sold 1,770 shares of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). That trade, made through ARK Genomic Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#NYSE">ARKG</a>), was valued at $1.63 million. </li>
<li>Ark Invest&#8217;s ARKF fund bought shares of Roblox Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>).</li>
<li>ARKG also bought shares of Recursion Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXRX#NASDAQ">RXRX</a>). ARKK purchased 60,9626 shares of Recursion Pharmaceuticals. ARKQ sold shares of Trimble Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37904152/latest-solana-meme-coin-skyrockets-tens-of-thousands-of-percent-in-just-10-days?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Latest Solana Meme Coin Skyrockets Tens Of Thousands Of Percent In Just 10 Days</a>
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Cathie Wood's Ark Invest Continues To Double Down On Moderna, Sells Nvidia Shares

Oppenheimer analyst Colin Rusch maintains Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) with a Outperform and raises the price target from $65 to $72.

Oppenheimer Maintains Outperform on Trimble, Raises Price Target to $72

Trimble Announced Two Of Its Cloud Software Solutions That Support Asset Lifecycle Management Have Received A Level 2 Certification Based On The Security Requirements Of The Texas Risk And Authorization Management Program

In the last three months, 6 analysts have published ratings on Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>), offering a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $63.0, a high estimate of $73.00, and a low estimate of $51.00. This current average has increased by 15.6% from the previous average price target of $54.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1710244913_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The standing of Trimble among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$73.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Richard Eastman</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$68.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Tami Zakaria</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$56.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$51.00</td>
<td>$42.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Trimble. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Trimble compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Trimble's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Trimble's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/TRMB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Trimble analyst ratings.</a>
<h2>Unveiling the Story Behind Trimble</h2>
Trimble Inc provides a technology solutions provider that enables office and mobile professionals to connect their workflows and asset lifecycles to drive a more productive, sustainable future. The company has four reportable segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The company generates the majority of its revenue from the Buildings and Infrastructure segment, which primarily serves customers working in architecture, engineering, construction, design, asset management, operations, and maintenance.
<h3>Trimble: Delving into Financials</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Growth: Trimble displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 8.86%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Trimble's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.76% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Trimble's ROE excels beyond industry benchmarks, reaching 1.42%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Trimble's ROA excels beyond industry benchmarks, reaching 0.67%. This signifies efficient management of assets and strong financial health.
Debt Management: Trimble's debt-to-equity ratio surpasses industry norms, standing at 0.71. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Analyst Ratings: What Are They?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 6 Analyst Evaluations For Trimble

Piper Sandler analyst Clarke Jeffries maintains Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) with a Overweight and raises the price target from $68 to $73.

Piper Sandler Maintains Overweight on Trimble, Raises Price Target to $73

Piper Sandler&nbsp;analyst Clarke Jeffries upgraded&nbsp;Trimble Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) to Overweight from Neutral, raising the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/TRMB/analyst-ratings" rel="noreferrer noopener">price target to $68 from $51.</a>
The analyst upgraded the stock with a focus on upcoming catalysts like resegmentation in the first half of the year, debt paydown worth $1.1 billion, up to&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">$800 million of share repurchases in 2024.</a>
Yesterday, Trimble beat fourth-quarter expectations with 9% revenue growth and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37066500/why-is-trimble-stock-trading-lower-monday" rel="noreferrer noopener">strong recurring revenue.</a>
While FY24 revenue guidance was below the analyst&#8217;s estimate, the primary difference was the timing of the transaction close &amp; a lower Ag run-rate in the first quarter, based on partnership transition, Jeffries added.
On a pro forma basis (excluding Precision Ag from FY23 &amp; FY24), the underlying business is expected to grow ~8% y/y (5.5% organic) with ~27%<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">&nbsp;EBITDA margins, the analyst notes.</a>
Per the analyst, Trimble could at last be in a place where a software-centric bull case could emerge where recurring revenue rises beyond 55% of mix, growing double-digits organically, capable of delivering mid-teens EBIT growth.&nbsp;
The analyst raised FY24 EPS estimate to $2.75 from $2.61.
Price Action:&nbsp;TRMB shares are trading higher by 2.91% to $56.28 on the last check Tuesday.&nbsp;

Analyst Color

Upgrades

Movers

Trimble's Growth Catalysts: Analyst Upgrades Stock On Strong Growth Potential Amid Debt Reduction And Buyback

Guidance

CORRECTION: Trimble Expects FY24 Revenue of $3.57B-$3.67B

WIIM

Trimble shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $51 to $68.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Keybanc raised the price target for monday.com Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mndy#NASDAQ">MNDY</a>) from $238 to $242. Keybanc analyst Jason Celino maintained an Overweight rating. monday.com shares dipped 10.1% to close at $212.01 on Monday. <a href="https://www.benzinga.com/quote/MNDY/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham cut G1 Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gthx#NASDAQ">GTHX</a>) price target from $14 to $12. Needham analyst Gil Blum maintained a Buy rating. G1 Therapeutics shares fell 1.1% to close at $4.48 on Monday. <a href="https://www.benzinga.com/quote/GTHX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Needham boosted the price target for Cadence Design Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>) from $315 to $320. Needham analyst Charles Shi maintained a Buy rating. Cadence Design shares fell 1.7% to close at $306.58 on Monday. <a href="https://www.benzinga.com/quote/CDNS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B. Riley Securities cut The Children&#39;s Place, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plce#NASDAQ">PLCE</a>) price target from $19 to $4. B. Riley Securities analyst Jeff Lick downgraded the stock from Neutral to Sell. Children&#39;s Place shares jumped 31.1% to close at $16.39 on Monday. <a href="https://www.benzinga.com/quote/PLCE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Leerink Partners slashed the price target for AN2 Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/antx#NASDAQ">ANTX</a>) from $23 to $7. Leerink Partners analyst Joseph Schwartz downgraded the stock from Outperform to Market Perform. AN2 Therapeutics shares fell 74.5% to close at $5.10 on Monday. <a href="https://www.benzinga.com/quote/ANTX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keybanc raised the price target for Lattice Semiconductor Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lscc#NASDAQ">LSCC</a>) from $80 to $85. Keybanc analyst John Vinh maintained an Overweight rating. Lattice Semiconductor shares gained 1.8% to close at $71.00 on Monday. <a href="https://www.benzinga.com/quote/LSCC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler increased Trimble Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trmb#NASDAQ">TRMB</a>) price target from $51 to $68. Piper Sandler analyst Clarke Jeffries upgraded the stock from Neutral to Overweight. Trimble shares gained 4.2% to close at $54.69 on Monday. <a href="https://www.benzinga.com/quote/TRMB/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted ZoomInfo Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zi#NASDAQ">ZI</a>) price target from $23 to $24. Piper Sandler analyst Brent Bracelin maintained an Overweight rating. ZoomInfo shares gained 4.1% to close at $16.02 on Monday. <a href="https://www.benzinga.com/quote/ZI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Daiwa Capital&nbsp;cut PayPal Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>) price target from $64 to $62. Daiwa Capital analyst Kazuya Nishimura downgraded the stock&nbsp;from Outperform to Neutral. PayPal shares gained 2% to close at $60.09 on Monday. <a href="https://www.benzinga.com/quote/MNDY/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities&nbsp;lowered The Duckhorn Portfolio, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/napa#NYSE">NAPA</a>) price target from $11 to $8. B of A Securities analyst Peter Galbo downgraded the stock from Neutral to Underperform&nbsp;. Duckhorn Portfolio shares gained 2.6% to close at $9.10 on Monday. <a href="https://www.benzinga.com/quote/MNDY/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
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Piper Sandler analyst Clarke Jeffries upgrades Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) from Neutral to Overweight and raises the price target from $51 to $68.

Piper Sandler Upgrades Trimble to Overweight, Raises Price Target to $68

Trimble shares are trading higher following Q4 earnings.

U.S. stocks traded mixed this morning, with the Dow Jones index falling around 20 points on Monday.
Following the market opening Monday, the Dow traded down 0.05% to 38,651.80 while the NASDAQ rose 0.09% to 16,004.39. The S&amp;P 500 also rose, gaining, 0.01% to 5,026.74.
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&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Energy shares rose by 0.8% on Monday.
In trading on Monday, health care shares fell by 0.3%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Trimble Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trmb#NASDAQ">TRMB</a>) reported upbeat earnings for its fourth quarter, but issued weak forecast for the first quarter.
Trimble reported a fourth-quarter FY23 revenue growth of 9% to $932.40 million, beating the consensus of $909.53 million. Revenue grew by 3% Y/Y on an organic basis. The adjusted EPS of $0.63 beat the consensus of $0.59.
Trimble said it anticipates fiscal 2024 revenue of $3.57 billion &ndash; $3.67 billion, below the consensus of $3.84 billion. It also expects adjusted EPS of $2.60 &ndash; $2.80 against the Street view of $2.72.
Trimble expects first-quarter revenue of $905 million &ndash; $935 million (consensus $977.07 million) and adjusted EPS of 57 cents &ndash; 62 cents (consensus 68 cents).
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Beamr Imaging Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bmr#NASDAQ">BMR</a>) shares shot up 234% to $7.05 after the company announced it will present its joint research relating to automated video modernization with NVIDIA at the ACM Mile-High-Video 2024 conference.
Shares of Millennium Group International Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgih#NASDAQ">MGIH</a>) got a boost, surging 154% to $2.62 after YC 1926 (BVI) Limited reported an 88.89% stake in the company in a 13G filing on Friday.
DIH Holdings US, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dhai#NASDAQ">DHAI</a>) shares were also up, gaining 66% to $2.14. DIH Holding US secured $1.5 million in private placement financing from OrbiMed.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
AN2 Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/antx#NASDAQ">ANTX</a>) shares dropped 73% to $5.35 after the company announced it will voluntarily pause enrollment in the Phase 3 part of the Phase 2/3 pivotal clinical trial evaluating epetraborole in treatment-refractory MAC lung disease.
Shares of WiSA Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wisa#NASDAQ">WISA</a>) were down 39% to $0.0482. WiSA Technologies priced 153,840,000 unit offering for gross proceeds of $10 million.
MedAvail Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdvl#NASDAQ">MDVL</a>) was down, falling 36% to $2.04.
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&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 0.2% to $76.69 while gold traded down 0.5% at $2,028.60.
Silver traded up 0.1% to $22.62 on Monday while copper rose 0.3% to $3.6925.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were higher today. The eurozone&rsquo;s STOXX 600 rose 0.4%, London&rsquo;s FTSE 100 rose 0.1% while Spain&rsquo;s IBEX 35 Index rose 0.7% The German DAX rose 0.3% French CAC 40 rose 0.4% while Italy&rsquo;s FTSE MIB Index gained 0.30%.
The BNP Paribas Real Estate Construction PMI in Ireland edged higher to 45.9 in January from December&rsquo;s reading of 45.1.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asia Pacific markets closed lower on Monday, with India&rsquo;s S&amp;P BSE Sensex falling 0.60% and Australia&rsquo;s S&amp;P/ASX 200 falling 0.39%.
&nbsp;
<h3>Economics</h3>
&nbsp;
The U.S. Treasury statement for January will be released at 2:00 p.m. ET.
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Press Releases

Trimble Fourth Quarter and Full Year 2023 Earnings Call and Webcast

Trimble Announces Fourth Quarter and Full Year 2023 Results and Initiates 2024 Guidance

Trimble Introduces Roadworks Paving Control Platform for Mills and Cold Planers

Tekla 2024 Structural BIM Software Offers Enhanced User Experience and Connects Workflows Across Projects and Stakeholders

Trimble Announces TX-RAMP Certification for e-Builder Digital Project Delivery Software and AgileAssets Pavement and Maintenance Management Systems

AGCO and Trimble Close Joint Venture, Form PTx Trimble

Transporeon and MODE Global Announce Collaboration for Autonomous Capacity Management