Valued at a market cap of $19.1 billion, Fortive Corporation (FTV) develops, manufactures, and markets products, software, and services. The Everett, Washington-based company offers software-enabled workflow solutions and specialized technical products.
This tech company has considerably underperformed the broader market over the past 52 weeks. Shares of FTV have declined 24.7% over this time frame, while the broader S&P 500 Index ($SPX) has soared 14%. However, on a YTD basis, the stock is up 8.9%, outpacing SPX’s 1.3% return.
Narrowing the focus, Fortive has notably lagged behind the State Street Technology Select Sector SPDR ETF’s (XLK) 20.2% rise over the past 52 weeks. Nonetheless, it has outperformed XLK’s 2% YTD drop.
On Feb. 4, FTV shares climbed 10.6% after it delivered better-than-expected Q4 results. The company’s revenue increased 4.6% year-over-year to $1.1 billion, with core revenue rising by 3.3%. Moreover, its adjusted EPS advanced 12.5% from the year-ago quarter, reaching $0.90. Both its top-line and bottom-line figures came in handily ahead of analyst estimates.
For fiscal 2026, ending in December, analysts expect FTV’s EPS to grow 8.9% year over year to $2.95. The company’s earnings surprise history is mixed. It met or exceeded the consensus estimates in three of the last four quarters, while missing on another occasion.
Among the 20 analysts covering the stock, the consensus rating is a “Hold,” which is based on two “Strong Buy,” one “Moderate Buy,” 15 “Hold,” and two “Strong Sell” ratings.
The configuration is more bearish than a month ago, with one analyst suggesting a “Strong Sell” rating.
On Feb. 5, Seaport Research maintained a “Buy” rating on FTV and raised its price target to $70, the Street-high price target, indicating a 16.4% potential upside from the current levels.
The company is trading above its mean price target of $59.06.
On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
