On August 19, Trimble Navigation rose 5.16% in regular trading, trading at $59.755/share, with turnover of $33.12 million. The move was driven by Barclays raising its price target on the stock from $79 to $80 while maintaining an Overweight rating.

The analyst action comes on the heels of a strong Q2 earnings report released on August 12. Trimble Navigation posted adjusted EPS of $0.86, beating the consensus estimate of $0.80 by 7.5% and representing a 21.13% year-over-year increase from $0.71. Revenue came in at $972 million, also exceeding the Street estimate of $951.9 million. Additionally, the company raised its full-year guidance, projecting revenue of $3.90 billion to $3.95 billion versus the FactSet estimate of $3.89 billion, and adjusted EPS of $3.60 to $3.70 versus the $3.59 consensus. The consecutive quarters of outperformance combined with upward guidance revisions signal sustained growth momentum from the company's subscription business transition.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)