Barclays Upgrades Garmin Amid Positive Outlook for Wearables
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 13 2024
0mins
Should l Buy GRMN?
Garmin Ltd. experienced a price drop of 5.00% as it crossed below its 5-day SMA, reflecting broader market weakness with the Nasdaq-100 down 1.89% and the S&P 500 down 1.88%.
Despite this decline, Barclays upgraded Garmin from Underweight to Equal Weight, raising the price target from $208 to $217. Analysts expressed optimism about Garmin's diversified business model and strong performance in the wearables sector, which is expected to be less affected by consumer spending contractions. This positive outlook contrasts with the overall market sentiment, indicating potential resilience for Garmin.
The upgrade from Barclays may provide a buffer against the current market pressures, suggesting that Garmin's strategic positioning in the wearables market could lead to recovery in its stock performance.
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Analyst Views on GRMN
Wall Street analysts forecast GRMN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GRMN is 229.60 USD with a low forecast of 185.00 USD and a high forecast of 310.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
2 Buy
2 Hold
3 Sell
Hold
Current: 198.690
Low
185.00
Averages
229.60
High
310.00
Current: 198.690
Low
185.00
Averages
229.60
High
310.00
About GRMN
Garmin Ltd. (Garmin) is a Switzerland-based entity. The Company and its subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments: fitness, outdoor, aviation, marine and auto. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices. Garmin offers various products designed for use in fitness and activity tracking. Company’s aviation business segment is a provider of solutions to aircraft manufacturers, existing aircraft owners and operators, as well as military and government customers and serves a range of aircraft, including transport aircraft, business aviation, general aviation, experimental/light sport, helicopters, optionally piloted vehicles, and unmanned aerial vehicles. Company operates worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Advanced Vehicle Tracking: The Varia RearVue 820 features cutting-edge radar technology that detects the size and movement of vehicles approaching from behind, providing real-time threat level alerts that enhance cyclists' safety and awareness of surrounding traffic.
- Superior Visibility: This tail light is the brightest on the market, visible from over 1.2 miles away, and offers multiple light modes to ensure cyclists are clearly seen both day and night, thereby reducing the risk of accidents.
- Extended Battery Life: With a battery life of up to 24 hours in day flash mode and 30 hours in radar-only mode, the Varia RearVue 820 allows cyclists to ride longer with enhanced safety and peace of mind.
- Convenient Design and Pricing: Featuring a sleek modern design, the device includes a USB-C charging port and a new seat post mount, priced at $299.99, aimed at providing cyclists with greater convenience and safety.
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Garmin Launches Varia RearVue 820 Radar Tail Light for Cyclists
- Advanced Vehicle Tracking: The Varia RearVue 820 features cutting-edge radar technology that detects the size and movement of vehicles approaching from behind, providing real-time threat level alerts that enhance cyclists' safety and awareness of surrounding traffic.
- Superior Battery Life: This tail light boasts a battery life of up to 24 hours in day flash mode and 30 hours in radar-only mode, allowing cyclists to ride longer with heightened awareness while reducing the frequency of recharging, thus improving the overall riding experience.
- Enhanced Visibility: With a brightness range of over 1.2 miles, the Varia RearVue 820 offers multiple light modes, and cyclists can customize flashing patterns based on their needs, significantly increasing visibility in various environments and ensuring safety on the road.
- Convenient Design: Featuring a sleek modern look, the device includes a USB-C charging port and a new seat post mount that fits almost any road or gravel bike, priced at $299.99, further driving Garmin's innovation in cycling safety.
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- Online Registration Access: Investors can register online to receive dial-in information and conference ID, enhancing transparency and participation for stakeholders in the financial discussion.
- Webcast Availability: The conference call will be live-streamed on Garmin's investor relations website, with an archive available for one year post-event, allowing investors who missed the live session to catch up on key insights.
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- Pre-Release of Earnings: The earnings report will be released prior to market open on the same day as the call, ensuring investors receive critical information for timely investment decisions.
- Online Registration Access: Investors can register online to receive dial-in information and conference ID, facilitating smooth participation and enhancing information transparency.
- Webcast Archive Availability: The live webcast will be accessible via Garmin's investor relations website, with an archive available for one year post-event, allowing investors who missed the live session to review key content.
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- Historical Volatility Analysis: With a historical volatility of 36% calculated from the last 251 trading days' closing prices, Garmin provides investors with a basis for assessing risk versus reward, particularly when considering selling covered calls at the $240 strike price.
- Options Trading Dynamics: As of Tuesday afternoon, the put volume among S&P 500 components reached 785,316 contracts, while call volume hit 1.51M, indicating a preference for call options among investors, reflecting an optimistic market sentiment.
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See More
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- Advanced Vehicle Tracking: The Varia RearVue 820 features cutting-edge radar technology that detects the size and movement of vehicles approaching from behind, providing real-time threat level alerts that enhance cyclists' safety and awareness of surrounding traffic.
- Superior Visibility: This tail light is the brightest on the market, visible from over 1.2 miles away, and offers multiple light modes to ensure cyclists are clearly seen both day and night, thereby reducing the risk of accidents.
- Extended Battery Life: With a battery life of up to 24 hours in day flash mode and 30 hours in radar-only mode, the Varia RearVue 820 allows cyclists to ride longer with enhanced safety and peace of mind.
- Convenient Design and Pricing: Featuring a sleek modern design, the device includes a USB-C charging port and a new seat post mount, priced at $299.99, aimed at providing cyclists with greater convenience and safety.
See More
Garmin Launches Varia RearVue 820 Radar Tail Light for Cyclists
- Advanced Vehicle Tracking: The Varia RearVue 820 features cutting-edge radar technology that detects the size and movement of vehicles approaching from behind, providing real-time threat level alerts that enhance cyclists' safety and awareness of surrounding traffic.
- Superior Battery Life: This tail light boasts a battery life of up to 24 hours in day flash mode and 30 hours in radar-only mode, allowing cyclists to ride longer with heightened awareness while reducing the frequency of recharging, thus improving the overall riding experience.
- Enhanced Visibility: With a brightness range of over 1.2 miles, the Varia RearVue 820 offers multiple light modes, and cyclists can customize flashing patterns based on their needs, significantly increasing visibility in various environments and ensuring safety on the road.
- Convenient Design: Featuring a sleek modern look, the device includes a USB-C charging port and a new seat post mount that fits almost any road or gravel bike, priced at $299.99, further driving Garmin's innovation in cycling safety.
See More
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- HP Rating Downgrade: Barclays downgraded HP from Equal Weight to Underweight and lowered the price target from $24 to $18, citing long-term challenges in both personal computers and printing, predicting continued stock pressure into 2026.
- Memory Cycle Impact: Analysts noted that the current memory cycle's intensity could materially pressure HP's PC business, although a short-term bump from customers securing known pricing may occur, long-term demand is expected to degrade.
- Garmin Rating Upgrade: Barclays upgraded Garmin from Underweight to Equal Weight, raising the price target from $208 to $217, as analysts are optimistic about Garmin's diversified business and strong performance in wearables, which is less susceptible to consumer contraction.
- Logitech Rating Downgrade: Barclays downgraded Logitech from Overweight to Equal Weight, reducing the price target from $134 to $98, expressing concerns over potential macro weakness in the North American market, which could hinder business growth due to inflationary pressures.
See More
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- Earnings Call Schedule: Garmin will hold its Q4 2025 earnings conference call on February 18, 2026, at 10:30 a.m. EST, ensuring timely financial updates for investors with the earnings release prior to market open.
- Online Registration Access: Investors can register online to receive dial-in information and conference ID, enhancing transparency and participation for stakeholders in the financial discussion.
- Webcast Availability: The conference call will be live-streamed on Garmin's investor relations website, with an archive available for one year post-event, allowing investors who missed the live session to catch up on key insights.
- Company Background: Garmin Ltd. focuses on providing innovative technology for athletes of all levels, demonstrating its leadership in the sports tech sector and commitment to continuous innovation aimed at enhancing performance and activity levels.
See More
Garmin Ltd. (GRMN) Invites Investors to Q4 2025 Earnings Call on February 18, 2026
- Earnings Call Schedule: Garmin will hold its Q4 2025 earnings conference call on February 18, 2026, at 10:30 a.m. EST, where executives will discuss the latest financial status and future outlook with investors.
- Pre-Release of Earnings: The earnings report will be released prior to market open on the same day as the call, ensuring investors receive critical information for timely investment decisions.
- Online Registration Access: Investors can register online to receive dial-in information and conference ID, facilitating smooth participation and enhancing information transparency.
- Webcast Archive Availability: The live webcast will be accessible via Garmin's investor relations website, with an archive available for one year post-event, allowing investors who missed the live session to review key content.
See More
Garmin Ltd (GRMN) Announces 1.7% Dividend Yield with 36% Historical Volatility
- Dividend Yield Expectation: Garmin Ltd's recent dividend yield stands at 1.7%, a figure influenced by the company's historical profitability fluctuations, indicating that future dividends may be impacted by earnings performance, thus affecting investor return expectations.
- Historical Volatility Analysis: With a historical volatility of 36% calculated from the last 251 trading days' closing prices, Garmin provides investors with a basis for assessing risk versus reward, particularly when considering selling covered calls at the $240 strike price.
- Options Trading Dynamics: As of Tuesday afternoon, the put volume among S&P 500 components reached 785,316 contracts, while call volume hit 1.51M, indicating a preference for call options among investors, reflecting an optimistic market sentiment.
- Options Market Trends: The current put:call ratio of 0.52 is significantly lower than the long-term median of 0.65, suggesting a strong bullish outlook in the market, which may influence Garmin's stock price trajectory.
See More
