Itron (NASDAQ:ITRI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham raised Itron’s price target to $128 from $116 and maintained a “buy” rating, implying 19.6% upside from the prior close. Analysts overall remain mixed, with an average “hold” rating and consensus target of $131.67.
• Itron exceeded second-quarter EPS expectations with $1.59 versus roughly $1.29 consensus and raised its 2026 EPS guidance to $6.30–$6.50. Adjusted EBITDA, gross margin, recurring revenue and backlog all improved, supporting the stronger outlook.
• Despite the earnings beat, revenue declined 7.2% year over year to $562.9 million, missing estimates, while free cash flow also fell. Lower Networked Solutions revenue and weaker GAAP net income remain key risks.

Itron (NASDAQ:ITRI - Get Free Report) had its price objective increased by analysts at Needham & Company LLC from $116.00 to $128.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the scientific and technical instruments company's stock. Needham & Company LLC's target price points to a potential upside of 19.60% from the company's previous close.

A number of other research analysts have also recently commented on ITRI. Weiss Ratings reissued a "hold (c)" rating on shares of Itron in a report on Friday, May 8th. Raymond James Financial began coverage on shares of Itron in a research report on Tuesday, April 21st. They set an "underperform" rating for the company. JPMorgan Chase & Co. decreased their price target on shares of Itron from $133.00 to $113.00 and set an "overweight" rating on the stock in a research note on Thursday, April 16th. TD Cowen reduced their target price on Itron from $145.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Finally, Oppenheimer increased their price target on Itron from $133.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Itron presently has an average rating of "Hold" and a consensus target price of $131.67.

Itron Trading Up 26.2%

Itron stock opened at $107.02 on Wednesday. Itron has a 12-month low of $77.77 and a 12-month high of $142.00. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 0.74 and a beta of 1.32. The firm has a 50 day moving average of $83.62 and a 200 day moving average of $89.80. The company has a current ratio of 2.66, a quick ratio of 2.24 and a debt-to-equity ratio of 0.97.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The scientific and technical instruments company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.29 by $0.30. Itron had a net margin of 12.31% and a return on equity of 19.54%. The firm had revenue of $562.90 million for the quarter, compared to the consensus estimate of $566.34 million. During the same period last year, the firm earned $1.62 EPS. The company's revenue was down 7.2% on a year-over-year basis. Itron has set its Q3 2026 guidance at 1.500-1.600 EPS and its FY 2026 guidance at 6.300-6.500 EPS. As a group, research analysts predict that Itron will post 6.01 earnings per share for the current year.

Insider Transactions at Itron

In related news, SVP John F. Marcolini sold 322 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $27,167.14. Following the completion of the sale, the senior vice president directly owned 24,689 shares of the company's stock, valued at approximately $2,083,010.93. This trade represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Donald L. Reeves III sold 319 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total value of $26,914.03. Following the completion of the sale, the senior vice president owned 29,100 shares in the company, valued at approximately $2,455,167. The trade was a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 3,946 shares of company stock worth $324,420. 1.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Itron

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Itron by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company's stock valued at $137,659,000 after purchasing an additional 265,039 shares in the last quarter. Geode Capital Management LLC raised its holdings in Itron by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,144,982 shares of the scientific and technical instruments company's stock worth $106,340,000 after purchasing an additional 6,598 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Itron by 22.2% during the first quarter. First Trust Advisors LP now owns 969,228 shares of the scientific and technical instruments company's stock valued at $86,872,000 after buying an additional 176,053 shares during the last quarter. Norges Bank bought a new stake in shares of Itron in the 4th quarter valued at about $63,990,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Itron by 12.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 673,420 shares of the scientific and technical instruments company's stock worth $60,359,000 after buying an additional 73,020 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Key Stories Impacting Itron

Here are the key news stories impacting Itron this week:

• Positive Sentiment: Itron reported second-quarter non-GAAP EPS of $1.59, beating the roughly $1.29–$1.30 consensus by about $0.30. Adjusted EBITDA rose 8% to $97 million, while adjusted gross margin expanded 460 basis points to a record 41.4%. Itron Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Management raised its 2026 non-GAAP EPS outlook to $6.30–$6.50, above the approximately $5.98 analyst estimate, signaling confidence in demand and the company’s improved operating model. Itron Soars After Earnings Beat and Raised Growth Outlook
• Positive Sentiment: Annual recurring revenue increased 21% to $417 million, Outcomes revenue grew 13%, and quarterly bookings totaled $550 million. The company ended the quarter with a substantial $4.4 billion backlog, supporting future revenue visibility.
• Neutral Sentiment: Third-quarter guidance calls for revenue of $590 million–$600 million and EPS of $1.50–$1.60. The EPS range is broadly in line with expectations, but the revenue outlook is below the approximately $607 million consensus.
• Negative Sentiment: Revenue fell 7% year over year to $562.9 million, missing estimates of about $566 million. Networked Solutions revenue declined 17% because of project timing and lower volumes, while GAAP net income dropped to $53 million from $68 million.
• Negative Sentiment: Free cash flow decreased to $81 million from $91 million a year earlier. These declines, along with lower full-year revenue growth, remain risks even though earnings quality and margins improved.

Itron Company Profile

Itron, Inc NASDAQ: ITRI is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company's offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron's product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.

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