Trimble (NASDAQ: TRMB) stock is currently trading up 2% at $55.48 as an analyst note from Piper Sandler boosts sentiment. Piper Sandler has downgraded confidence in Trimble, citing the high conviction in the share’s potential for a robust second half of the year.

The affirmation comes with expectations of a rebound once the company completes its ongoing financial review process, paving the way for the resumption of buyback activities. The analyst maintains an overweight rating on the shares and a price target of $73, expecting the same drivers that previously announced an upgrade to bolster Trimble’s performance going forward.

In other recent analyst news, Baird also reiterated its Buy rating on the stock and raised the price target to $66 from $65. Confirmation of Trimble’s H2 outlook as well as ARR growth of +11-13% were cited as support for the upgrade.

Trimble Inc., headquartered in Westminster, Colorado, provides groundbreaking technology solutions for numerous industries and has established a notable presence with its comprehensive offerings in buildings and infrastructure, geospatial, resources and utilities, and transportation.

At the time of writing, Trimble has a market capitalization of approximately $13.56 billion, highlighting its influence in its specialized sector. The 52-week share price range shows a low of $39.57 to a high of $65.55, putting the current price comfortably in the middle.

Financial audits are critical moments that can shape investor perceptions. However, after overcoming this bureaucratic hurdle, Trimble is expected to actively resume share buyback programs – a move that traditionally signals the company’s confidence in its valuation and growth trajectory.

Trimble Inc. has a formidable position in the scientific and engineering instruments space, and with the strategic initiatives touted by Piper Sandler, the company could actually be on course for a healthy recovery in the second half of the year.