Leaked branding suggests the Moto Z 2 is coming. Recently, Evan Blass who is commonly known for leaking images and details of devices has posted a picture of the Moto Z 2 branding on Twitter, and while there are no details of the device right now or any images of the phone in question it would at least seem that the phone is in development by Lenovo and the Moto USA team.
This would appear to be the first mention of a second generation Moto Z device being in the works, though it might not come as much of a shock to some consumers as the Moto Z was a decent device that has been popular for Moto USA and Lenovo thanks to the inclusion of the modular components called Moto Mods. At this moment there is nothing known about the follow-up to the original Moto Z other than the name and logo, and there are absolutely zero details at this point on a time frame for a potential announcement or launch date. That being said it's entirely possible that it could be unveiled later this year as Moto USA tends to release new phones in the second half of the year. In June of 2016 the original Moto Z was announced so there is potential that the Moto Z 2 could show up around the same time this year with a launch soon after.
While the Moto Z 2 is nothing more than a name right now, Moto USA looks to have other phones in the works, as the 2017 Moto X has been in the spotlight a bit as of late. Back on March 31st a live image that is suspected to be of the 2017 Moto X surfaced online, and even more recently Moto USA put out a rap video that appears to show that same device albeit in a different color. In that same video another new phone that hasn't been launched is seen being shown off in White, which is suspected to be a new version of the Moto E, the entry level device in the series of Moto smartphones. When the Moto Z 2 will officially be announced is unknown, but it might not be the only phone announced.