Bernstein SocGen Group has reiterated an Outperform rating on Trimble Navigation (NASDAQ:TRMB) and maintained a $99.00 price target, highlighting the company as a potential beneficiary amid AI-related market dynamics. The research note arrives as Trimble trades near $67.14, with Bernstein's target implying substantial upside from that level.
Analyst consensus remains firmly tilted to the bullish side. Data from InvestingPro show that analyst price targets on Trimble range between $80 and $120, indicating broad optimism among sell-side firms.
On results, Trimble topped fourth-quarter street expectations for EPS by roughly 4% and gave 2026 guidance that was around 1% ahead of consensus, although its guidance for the first quarter came in $0.05 below forecasts. InvestingPro information also indicates Trimble remains profitable on a trailing basis, reporting diluted earnings per share of $1.76 for the last twelve months. At the same time, the stock trades at a relatively elevated price-to-earnings multiple of 37.97.
Bernstein noted the company delivered a solid finish to the year, but also flagged that investor attention has shifted toward potential AI disintermediation risks across the technology sector. The firm observed that since January 12, Trimble shares have declined about 15%, a move that aligns with weakness across the broader software complex amid AI-related concerns.
Despite the recent pullback, Bernstein said it has grown more confident that Trimble should be “at the top of the shopping list when investors start sorting out the AI disintermediators vs. disintermediated.” That assessment frames Trimble as a name to revisit as market participants differentiate companies that could benefit from AI adoption from those that face disintermediation risk.
Trimble's reported fourth-quarter 2025 financials reinforce the upbeat view on near-term execution. The company posted earnings per share of $1.00, exceeding the $0.96 expected by analysts. Revenue for the quarter came in at $970 million, topping the forecasted $948.33 million.
Other broker activity has also reflected the tension between strong company fundamentals and broader multiple compression in software. Oppenheimer, while keeping an Outperform rating, lowered its price target on Trimble from $102.00 to $86.00. That revision was attributed to a wider re-rating of software multiples, even as Oppenheimer raised its Trimble estimates following a strong finish to 2025 and what it characterized as positive momentum heading into 2026.
Taken together, the recent earnings beat, forward guidance, and analyst attention underscore Trimble's robust financial performance, while ongoing AI-related market concerns and sector multiple pressure are shaping near-term share-price behavior.
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Financial results: Q4 EPS $1.00 vs. $0.96 expected; Q4 revenue $970 million vs. $948.33 million expected. Trailing diluted EPS $1.76; P/E 37.97.
Analyst views: Bernstein reiterates Outperform with $99 PT; analyst targets range $80 to $120 per InvestingPro. Oppenheimer keeps Outperform but trims PT from $102 to $86 due to software multiple compression.