Trimble's (NASDAQ: TRMB) shares have returned 6.2% year to date (YTD) compared with the Zacks Internet - Software industry's rise of 12.3% and the broader Zacks Computer & Technology sector's return of 19.9%.
TRMB's shares have gained from strong performance in the buildings, infrastructure and transportation segments. The notable increase in Annual Recurring Revenue has been a significant positive factor.
In second-quarter 2024, recurring software services were 75% of revenues. Overall, recurring revenues were 60% of revenues.
TRMB's continuous efforts to expand its client base and robust portfolio are expected to drive top-line growth in 2024. It raised the mid-point of its full-year guidance by $10 million to $3.63 billion. TRMB's earnings moved up 4 cents to $2.74 per share.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Hence, the question that investors should mull over is — would these strong efforts help TRMB stock in continuing its momentum?
TRMB Divests Telematics Segment to Platform Science
Trimble's efforts to expand its footprint in the global ...
