Zebra Technologies (ZBRA), a maker of enterprise systems for tracking inventory and other important assets, on Tuesday beat Wall Street’s targets for the first quarter. But ZBRA stock fell in early trading.
The Lincolnshire, Ill.-based company earned an adjusted $4.79 a share on sales of $1.35 billion in the March quarter. Analysts expected Zebra earnings of $4.34 a share on sales of $1.33 billion. In the year-earlier quarter, Zebra earnings were $2.67 a share on sales of $1.05 billion.
In premarket trading on the stock market today, ZBRA stock dropped 5%, near 455.
On April 19, ZBRA stock tried to break out from a cup base at a buy point of 516.88, according to IBD MarketSmith charts. However, trading volume was 55% below average, a sign that the breakout lacked conviction. ZBRA stock notched a record high of 518.66 before reversing and ending the day 0.8% lower than the prior close.
Zebra makes rugged mobile computers, bar code scanners and printers, and RFID tracking tags that link to enterprise systems to enable real-time visibility of inventory and other assets. It offers systems for retail, health care, manufacturing, transportation and other industries.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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