From NASDAQ: 2024-09-17 11:59:00

Garmin (GRMN) shares have surged 34.4% YTD, outperforming the Computer and Technology sector and the Electronics-Miscellaneous Products industry. The company’s strong top-line growth is driven by its presence in Outdoor, Fitness, Aviation, and Marine segments, with revenues up 17% in the first half of 2024.

Garmin raised its 2024 revenue guidance to $5.95 billion and pro-forma earnings to $6 per share. Strong growth is expected in Fitness and Marine segments. The company’s expanding portfolio, including smartwatch series and premium cycling computers, is contributing to its success in the market.

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Garmin’s strong liquidity, with $3.4 billion in cash and healthy cash flow, is a positive factor for its future prospects. Despite its stretched valuation indicated by a Value Score of D, the company’s expanding product range and market presence contribute to its current success. Investors should consider potential entry points for GRMN stock.



Read more at NASDAQ: Garmin Rises 34% Year to Date: How Should You Play the Stock?