Garmin Ltd. ($GRMN) Stock Forecast: Up 23.2% Today

What is Garmin Ltd.?

Garmin (GRMN) is a multinational technology company recognized for its GPS technology and wearable devices. In today's market, GRMN demonstrated a strong bullish movement.

Why is Garmin Ltd. going up?

GRMN stock is up 23.2% on Oct 30, 2024 16:41

• Garmin (GRMN) surpassed Q3 earnings and revenue expectations by a significant margin, demonstrating robust financial performance.
• The favorable earnings and revenue results likely instilled confidence in investors regarding the company's growth potential, fueling the stock's upward trend.
• The strong Q3 performance can be credited to heightened demand for Garmin's products and services, highlighting the company's adeptness in seizing market opportunities.
• Investors responded positively to Garmin's impressive financial outcomes, resulting in heightened buying activity and driving the stock price upwards.

GRMN Price Chart

GRMN Technical Analysis

GRMN News

Garmin ( GRMN ) Q3 Earnings and Revenues Beat Estimates

Garmin (GRMN) delivered earnings and revenue surprises of 36.30% and 9.81%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2360314/garmin-grmn-q3-earnings-and-revenues-beat-estimates

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https://www.zacks.com/stock/news/2359929/should-you-buy-sell-or-hold-day-stock-prior-to-q3-earnings-release

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Garmin Ltd. Price History

30.09.2024 - GRMN Stock was up 23.2%

• Garmin (GRMN) surpassed Q3 earnings and revenue expectations by a significant margin, demonstrating robust financial performance.
• The favorable earnings and revenue results likely instilled confidence in investors regarding the company's growth potential, fueling the stock's upward trend.
• The strong Q3 performance can be credited to heightened demand for Garmin's products and services, highlighting the company's adeptness in seizing market opportunities.
• Investors responded positively to Garmin's impressive financial outcomes, resulting in heightened buying activity and driving the stock price upwards.

13.08.2024 - GRMN Stock was down 5.8%

• The comparison between another company and the multinational technology company for value investors may have highlighted some weaknesses in the multinational technology company's current position, potentially impacting its stock price negatively.
• Comments on another company losing 'too much money' could have raised concerns about the overall tech sector, leading investors to be more cautious with their investments in the multinational technology company.
• Despite a slight rise in the multinational technology company's stock in the latest trading session, the overall market trend may have overshadowed this positive movement, resulting in a bearish day for the stock.

21.01.2024 - GRMN Stock was up 10.0%

• Garmin's stock climbed significantly after reporting its fourth-quarter results, with revenue growth of 13% year-on-year and proforma EPS beating consensus estimates.
• The company's Q4 earnings and revenues surpassed expectations, indicating strong performance in the last quarter.
• The positive market movement can also be attributed to Garmin's profit rise in Q4, beating estimates, as well as the announcement of a dividend hike and buybacks, which boosted investor confidence in the stock.
• Overall, Garmin's impressive financial results and strategic decisions like dividend hikes and buybacks contributed to the bullish movement in the stock market today.

13.08.2024 - GRMN Stock was down 5.5%

• Garmin (GRMN) saw a decrease in its stock price amid ongoing market movements.
• The slight uptick in Garmin's stock value was overshadowed by broader market shifts.
• Investor sentiment towards tech stocks, including Garmin, may have been influenced by comments on financial struggles in the industry.
• Concerns about financial performance in the tech sector possibly contributed to the downturn in Garmin's stock value.

22.01.2024 - GRMN Stock was up 8.8%

• Strong bullish movement for Garmin (GRMN) today after surpassing fourth-quarter earnings expectations and posting positive financial results.
• Double-digit growth in revenues and earnings reported, fueled by robust performance in auto and fitness divisions.
• Investor confidence in the stock reinforced by Garmin's planned dividend increase and share repurchase program.
• Market responded favorably to the developments, with optimistic outlook for revenue expansion in 2024 adding to the positive sentiment around GRMN.

21.01.2024 - GRMN Stock was up 9.1%

• Garmin's fourth-quarter results revealed a strong performance, with a 13% year-on-year revenue growth to $1.48 billion, surpassing expectations.
• The company's proforma EPS of $1.72 also exceeded anticipated levels, contributing to the positive market response.
• Furthermore, Garmin's record full-year revenue, a dividend raise, and share repurchases boosted investor confidence, leading to the uptrend in the market.
• The company's robust financial results and strategic choices likely boosted investor confidence, driving the stock price upward.

22.01.2024 - GRMN Stock was up 8.8%

• Fourth-quarter earnings exceeded expectations, fueled by strong performance in the auto and fitness business segments.
• A proposed dividend increase and share buyback plan were announced, likely contributing to positive investor sentiment.
• Revenues and earnings saw a double-digit increase, with total revenues up 13% annually, demonstrating solid financial performance.
• A positive outlook for 2024 revenue growth of 10% further boosted the bullish momentum in Garmin's stock.

21.01.2024 - GRMN Stock was up 8.8%

• Garmin's stock rose notably after surpassing fourth-quarter earnings expectations, fueled by strong performance in its auto and fitness segments.
• Positive investor sentiment was also influenced by the company's proposed dividend increase and share buyback plan.
• The company's impressive double-digit growth in fourth-quarter revenues and earnings underscored its solid financial performance.
• Robust performance in the Outdoor, Fitness, Auto, and Marine segments contributed to Garmin's strong Q4 results, receiving a positive market response.

21.01.2024 - GRMN Stock was up 9.3%

• Fourth-quarter earnings surpassed expectations with a significant increase in revenues and earnings.
• Strong performance in the auto and fitness business segments drove the positive results.
• Investor confidence was boosted by the proposed dividend increase and share buyback plan.
• Garmin's solid financial performance and strategic efforts lifted its stock price, indicating a favorable market response to the company's current success and future potential.

10.09.2023 - GRMN Stock was up 2.8%

• Garmin's recognition as the Most Innovative Marine Company for 2023 by Soundings Trade Only could have contributed to the bullish movement. This recognition highlights the company's commitment to shaping the future of the marine industry, boosting investor confidence.
• The "hold" rating assigned by StockNews.com might have had a minor impact on the stock, but it is unlikely to be the primary driver of the bullish movement.
• The broader market trend favoring tech stocks that pay dividends could have indirectly influenced Garmin's bullish movement. As investors seek a conservative framework and passive income, Garmin's position as a tech company paying dividends may have attracted positive attention.
• The overall positive sentiment towards tech stocks that pay dividends could have created a favorable environment for Garmin's stock, further contributing to its bullish movement.

01.10.2023 - GRMN Stock was up 12.0%

• The bullish movement in GRMN stock today can be attributed to the following factors:
• 1. Strong Q3 Results: Garmin reported a double-digit increase in revenues and earnings for the third quarter of 2023, beating expectations. This positive performance indicates a healthy financial outlook for the company.
• 2. Raised Sales Forecast: Garmin raised its annual sales forecast, indicating confidence in its ability to generate higher revenues. This positive outlook for future sales likely contributed to the bullish market movement.
• 3. Beat Estimates: The company's Q3 earnings surpassed analyst estimates, both in terms of top-line revenue and bottom-line profit. This outperformance suggests that Garmin is executing its business strategies effectively and generating strong financial results.
• 4. Positive Market Reaction: The market reacted positively to Garmin's Q3 results, with the stock experiencing a bullish movement. This indicates that investors are optimistic about the company's future prospects and are willing to buy shares, driving the stock price higher.

30.09.2024 - GRMN Stock was up 17.2%

• The increase in Garmin's stock price today could be linked to favorable market sentiment related to its upcoming Q3 earnings.
• Positive expectations regarding performance in key metrics beyond standard financial projections may have influenced investor confidence.
• Emphasis on innovation and product advancement within the technology industry may also be boosting optimism for Garmin.
• In general, there appears to be a positive market outlook on Garmin's growth potential and financial results in the near term, driving the upward movement in the stock price.