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Trimble Has Substantial Upside Potential Despite Flat Growth

Jul. 12, 2023 3:43 AM ETTrimble Inc. (TRMB)AGX, PWR2 Comments
Michael Del Monte profile picture
Michael Del Monte


  • Trimble is transitioning from a hardware/software solution to a subscription-based software platform, which is expected to widen margins and boost bottom-line growth.
  • The recent acquisition of Transporeon is anticipated to add value to Trimble's software vertical for transportation services, contributing $135mm in incremental revenue over the next three quarters.
  • Using historical multiples, I expect TRMB's shares to trade at $83.28/share for a market cap of $20,000mm, leading to a buy rating for the company.

Farm machines, combine and semi-truck harvesting corn


Trimble (NASDAQ:TRMB) is a multifaceted technology solutions provider with vertical software stacks across multiple industries, including construction, agriculture, and civil engineering. Sales are aligned through 4 reporting segments: building and infrastructure, geospatial, resources and utilities, and transportation, each with software solutions that connect field work to back

This article was written by

Michael Del Monte profile picture
Michael Del Monte is a buy-side equity analyst with over 5 years of industry experience. Prior to working in the investment management industry, Michael spent over a decade in professional services working in industries that range from O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary.Michael takes a macro-value-oriented approach to investment analysis and prides himself in being able to make investment recommendations based on cross-industry analysis.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Comments (2)

thanks for the article
Michael Del Monte profile picture
@JB170 Feel free to read more about the macro backdrop and trading strategy for this stock:
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