Baird Cuts Trimble Target to $90, Maintains Outperform on Strong Q4
On February 11, Baird trimmed Trimble’s 2026 price target to $90 from $95 while retaining an Outperform rating after Q4 revenue of $969.8 million topped the $950.17 million estimate. Management reported record ARR of $2.39 billion and guided fiscal 2026 revenue of $3.81 billion–$3.91 billion versus the $3.84 billion consensus.
1. Analyst Revisions
On February 11, Baird reduced its price target on Trimble to $90 from $95 but kept an Outperform rating, citing solid execution and firm initial 2026 guidance. That same day, JPMorgan lowered its target to $88 from $98 while maintaining an Overweight rating.
2. Fourth-Quarter Performance
Trimble reported Q4 revenue of $969.8 million, above the $950.17 million consensus, and closed 2025 with record annualized recurring revenue of $2.39 billion. Management highlighted record gross and operating margins and said the company surpassed expectations on both top and bottom lines.
3. Fiscal 2026 Guidance
The company expects fiscal 2026 revenue between $3.81 billion and $3.91 billion, bracketing the $3.84 billion consensus estimate, as it continues to execute on its Connect & Scale strategy across architecture, engineering and construction markets.