William Blair analyst Jonathan Ho has maintained their bullish stance on TRMB stock, giving a Buy rating on September 3.
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Jonathan Ho has given his Buy rating due to a combination of factors that highlight Trimble’s strategic transition and market positioning. The company is shifting from a hardware-centric model to a software-driven and subscription-based business, which now constitutes a significant portion of its revenue. This transition not only increases the predictability of revenue but also expands Trimble’s market reach, setting it apart from competitors who focus solely on either hardware or software.
Additionally, Trimble’s core markets, such as AECO and transportation, remain largely untapped by digital tools, providing ample growth opportunities. The company is well-positioned to benefit from broader trends like digitization, infrastructure spending, and AI demand. Trimble’s extensive data collection over the years enhances its AI capabilities, giving it a competitive edge. Despite some near-term challenges in the transportation sector, Trimble’s robust construction backlog and cross-selling potential further support the Buy rating.
In another report released on September 3, Bernstein also maintained a Buy rating on the stock with a $99.00 price target.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRMB in relation to earlier this year.