The introduction of the Montana Series demonstrates Gamin's ongoing commitment to innovation, making it an alluring investment for investors.
It hasn't drawn the Wall Street attention of its bigger rivals, but there was an electronics maker that more than doubled the stock market's booming returns in 2024. No, I don't mean Apple, which just edged past the 23% gain of the S&P 500 index.
In the most recent trading session, Garmin (GRMN) closed at $207.15, indicating a +1.27% shift from the previous trading day.
Here is how Garmin (GRMN) and InterDigital (IDCC) have performed compared to their sector so far this year.
Garmin (GRMN 1.74%) has been somewhat of a surprise stock market winner in 2024. Shares of the GPS-enabled device and wearables maker have soared 60% year to date with only a handful of trading days remaining.
Tigress Financial raised the firm's price target on Garmin to $265 from $215 and keeps a Strong Buy rating on the shares. The firm said that ongoing innovation, new product introductions, and operational excellence are driving revenue and cash flow growth and further shareholder value creation. The company's ongoing cadence of new product introductions continues to drive its competitive advantage with product enhancements, and new applications continue to drive the growth of its ecosystem and will continue to drive accelerating Business Performance trends, the analyst tells investors in a research note.
GRMN's efforts in product expansion, along with its strong fundamentals and growth potential, underscore the stock's profitability in the near term.
Garmin, Geely Automotive and Raymond James are included in this Analyst Blog.
Garmin (GRMN) reported earnings 30 days ago. What's next for the stock?
Garmin Ltd.'s Q3 results showed incredibly strong revenue and earnings growth from most segments. The company managed to gain market share in wearables during weak consumer confidence, driven by Garmin's product innovation. The long-term growth outlook stands great with secular growth in smartwatches, and Garmin's history of successful R&D and tuck-in acquisitions.
Garmin (GRMN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.