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Based in Sarasota, Florida, Roper Technologies, Inc. (ROP) is a global leader in diversified technology, providing engineered products and solutions for various niche markets. With a market cap of $58.82 billion, Roper Technologies is a prominent player in the technology sector.
Companies worth $10 billion or more are considered "large-cap" stocks, and Roper Technologies rightly fits into this category. Its market cap signifies its substantial size, stability, and influence across diverse industries, including medical and scientific imaging, RF technology, and software solutions.
Shares of ROP are currently trading 2.8% below their 52-week high of $565, which they hit on Apr. 1. Also, ROP has gained marginally over the past three months, underperforming the Technology Select Sector SPDR Fund (XLK) 9.1% returns over the same time frame.
In the long term, ROP shares are up marginally on a YTD basis and have gained 20.4% over the past 52 weeks. In comparison, the XLK gained 18.3% in 2024 and achieved 32.1% over the past year.
However, ROP has been trading above its 200-day moving average since mid-May and above its 50-day moving average since early June, which confirms its bullish price trend.
Roper Technologies reported Q1 results on Apr. 26, with a net income of $382 million, translating to $3.54 per share. Adjusted earnings, accounting for one-time gains and costs, were $4.41 per share, surpassing Wall Street expectations. The industrial equipment maker also reported revenue of $1.68 billion, beating the forecasted $1.65 billion.
For the current quarter ending in June, Roper Technologies anticipates per-share earnings to range from $4.42 to $4.46. The company projects full-year earnings between $18.05 and $18.25 per share. Despite the earnings beat, shares fell after the report.
Despite its recent underperformance compared to the broader technology sector, analysts are moderately optimistic about ROP's prospects. The stock has a consensus rating of "Moderate Buy" from 14 analysts in coverage. The mean price target of $598.85 reflects a 9% premium over current levels.
On the date of publication, Rashmi Kumari 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. For more information please view the Barchart Disclosure Policy here.
