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Trimble's (TRMB) Solutions Gain TX-RAMP Level 2 Certification
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Trimble (TRMB - Free Report) unveiled a significant development in its cloud software solutions, particularly targeting asset lifecycle management. The announcement entails that two of Trimble’s flagship offerings, e-Builder Enterprise – Commercial and specific functionalities within AgileAssets, have attained a Level 2 Certification under the Texas Risk and Authorization Management Program (TX-RAMP).
The certification underscores Trimble’s commitment to adhering to stringent security standards, particularly crucial in the context of cloud-based data processing for Texas state agencies. As part of the Texas Department of Information Resources, TX-RAMP ensures the security of commercial cloud computing products and services utilized by state entities, mitigating risks associated with data processing, storage and transmission.
Trimble’s e-Builder Enterprise serves as a digital project delivery software tailored for capital improvement programs (CIP) and State Transportation Improvement Programs (STIP). Given the substantial influx of federal grants — approximately $51 million over three years — allocated for the adoption of advanced digital construction management systems by U.S. state departments of transportation (DOTs), Trimble’s TX-RAMP-certified solution emerges as a timely and indispensable asset.
Similarly, AgileAssets, equipped with TX-RAMP-certified capabilities in pavement management and maintenance management, empowers DOTs and infrastructure management organizations to optimize asset maintenance and management. Leveraging predictive data analytics, AgileAssets facilitates informed decision-making to ensure infrastructure safety, affordability and longevity.
Trimble’s solutions help in improving infrastructure management by digitizing and streamlining workflows across the asset lifecycle. e-Builder and AgileAssets not only bolster data security but also enhance productivity, cost-effectiveness and sustainability.
Trimble's TX-RAMP-certified solutions epitomize a paradigm shift in infrastructure management, offering state agencies and organizations a robust framework to navigate the evolving landscape of digital construction and asset maintenance. With a relentless focus on innovation and security, Trimble reaffirms its position as a frontrunner in enabling efficient and resilient infrastructure ecosystems.
Trimble Rides on Strong Portfolio
Shares of Trimble have gained 17.2% year to date, outperforming the Zacks Computer & Technology sector’s return of 12%.
Trimble is benefiting from strength across buildings and infrastructure, and transportation segments. Bookings in AECO software businesses increased more than 30% year over year, driven in part by the strong cross-sell and TC1 performance in fourth-quarter 2023.
Strong momentum in the transportation segment, driven by organic growth in Enterprise and MAPS, is a positive. Transporeon reported record bookings in the recently concluded quarter. Strong growth in subscription and service revenues is driving top-line growth. Increasing recurring revenues in the revenue mix improves visibility.
Trimble’s expanding partner base is noteworthy. Its partnership with Sabanto expands its footprint in the domain of autonomous farming technology. Partnerships with the likes of The HALO Trust and its foundation fund, IIT Kanpur and Microsoft Azure have helped TRMB win new clients.
Trimble’s commitment to diversifying its portfolio and enhancing technological capabilities through collaborations is expected to drive top-line growth.
For first-quarter 2024, Trimble expects revenues between $905 million and $935 million. The company expects non-GAAP earnings between 57 cents and 62 cents per share.
The Zacks Consensus Estimate for first-quarter 2024 revenues of $921.15 million, indicating 0.63% year-over-year growth. The consensus mark for earnings is pegged at 59 cents, down a couple of cents and suggesting 18.06% year-over-year growth.
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Trimble's (TRMB) Solutions Gain TX-RAMP Level 2 Certification
Trimble (TRMB - Free Report) unveiled a significant development in its cloud software solutions, particularly targeting asset lifecycle management. The announcement entails that two of Trimble’s flagship offerings, e-Builder Enterprise – Commercial and specific functionalities within AgileAssets, have attained a Level 2 Certification under the Texas Risk and Authorization Management Program (TX-RAMP).
The certification underscores Trimble’s commitment to adhering to stringent security standards, particularly crucial in the context of cloud-based data processing for Texas state agencies. As part of the Texas Department of Information Resources, TX-RAMP ensures the security of commercial cloud computing products and services utilized by state entities, mitigating risks associated with data processing, storage and transmission.
Trimble’s e-Builder Enterprise serves as a digital project delivery software tailored for capital improvement programs (CIP) and State Transportation Improvement Programs (STIP). Given the substantial influx of federal grants — approximately $51 million over three years — allocated for the adoption of advanced digital construction management systems by U.S. state departments of transportation (DOTs), Trimble’s TX-RAMP-certified solution emerges as a timely and indispensable asset.
Similarly, AgileAssets, equipped with TX-RAMP-certified capabilities in pavement management and maintenance management, empowers DOTs and infrastructure management organizations to optimize asset maintenance and management. Leveraging predictive data analytics, AgileAssets facilitates informed decision-making to ensure infrastructure safety, affordability and longevity.
Trimble’s solutions help in improving infrastructure management by digitizing and streamlining workflows across the asset lifecycle. e-Builder and AgileAssets not only bolster data security but also enhance productivity, cost-effectiveness and sustainability.
Trimble's TX-RAMP-certified solutions epitomize a paradigm shift in infrastructure management, offering state agencies and organizations a robust framework to navigate the evolving landscape of digital construction and asset maintenance. With a relentless focus on innovation and security, Trimble reaffirms its position as a frontrunner in enabling efficient and resilient infrastructure ecosystems.
Trimble Rides on Strong Portfolio
Shares of Trimble have gained 17.2% year to date, outperforming the Zacks Computer & Technology sector’s return of 12%.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Trimble is benefiting from strength across buildings and infrastructure, and transportation segments. Bookings in AECO software businesses increased more than 30% year over year, driven in part by the strong cross-sell and TC1 performance in fourth-quarter 2023.
Strong momentum in the transportation segment, driven by organic growth in Enterprise and MAPS, is a positive. Transporeon reported record bookings in the recently concluded quarter. Strong growth in subscription and service revenues is driving top-line growth. Increasing recurring revenues in the revenue mix improves visibility.
Trimble’s expanding partner base is noteworthy. Its partnership with Sabanto expands its footprint in the domain of autonomous farming technology. Partnerships with the likes of The HALO Trust and its foundation fund, IIT Kanpur and Microsoft Azure have helped TRMB win new clients.
Trimble’s commitment to diversifying its portfolio and enhancing technological capabilities through collaborations is expected to drive top-line growth.
For first-quarter 2024, Trimble expects revenues between $905 million and $935 million. The company expects non-GAAP earnings between 57 cents and 62 cents per share.
The Zacks Consensus Estimate for first-quarter 2024 revenues of $921.15 million, indicating 0.63% year-over-year growth. The consensus mark for earnings is pegged at 59 cents, down a couple of cents and suggesting 18.06% year-over-year growth.
Zacks Rank & Stocks to Consider
Trimble currently has a Zacks Rank #3 (Hold).
Logitech (LOGI - Free Report) , Meta Platforms (META - Free Report) and Synopsys (SNPS - Free Report) are some better-ranked stocks in the broader sector that investors can consider, each sporting a Zacks Rank #1 (Strong Buy) at present. You can find the complete list of today’s Zacks #1 Rank stocks here.
The long-term earnings growth rate for Logitech, Meta Platforms and Synopsys is currently pegged at 13.13%, 19.5% and 17.51%, respectively.
Shares of Meta Platforms and Synopsys have surged 39% and 6%, respectively, on a year-to-date basis. Logitech shares have declined 1.6% year to date.