Garmin LtdNYSE: GRMN
Consumer Discretionary · Consumer Electronics
$235.42
-1.15%
Vol: 474K
Research Digest
Tuesday, June 16, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Garmin posts record Q1 with 14% revenue growth and launches Forerunner 70/170 lineup; shares up 3.8% on May 20Positive▶
Garmin reported record Q1 2026 revenue of $1.75B (+14% YoY) and EPS of $2.08 on May 7, beating the $1.81 EPS forecast by 14.92%, with Fitness segment revenue up 42%. The company reaffirmed annual guidance. On May 15, Garmin launched the Forerunner 70 (a $249.99 lower-cost AMOLED running watch), Forerunner 170, and Forerunner 170 Music, reigniting the product cycle narrative after Fenix 8. Shares rose 3.8% to $237.47 on May 20, 2026. GRMN declared a $1.05 cash dividend with an ex-date of June 15. Morgan Stanley lowered its price target to $249. Eight-analyst consensus rates GRMN a Hold with an average 12-month PT of $261.71 (+12.18% upside).
May 20Garmin shares fell 3.7% to $225.75 on May 15 as the company launched the Forerunner 70 and 170 series on May 15 and declared a $1.05 cash dividend with ex-date June 15.Mixed▶
Garmin launched the Forerunner 70, Forerunner 170, and Forerunner 170 Music on May 15, expanding its lower-cost AMOLED running watch lineup. The same day, shares fell 3.7% to $225.75 despite a strong Q1 2026 print of record $1.75B revenue (+14% YoY) with Fitness segment growth of 42%. Garmin announced a $1.05 quarterly cash dividend (ex-date June 15) and received Embraer's Best Supplier of the Year Award (18th aerospace honor). On May 5 it also unveiled JL Audio Primacy premium home audio. Consensus rating remains Hold with a $261.71 12-month target (~+14.5% upside). Risk: the post-launch share decline suggests product-cycle skepticism, and the FR70/170 cannibalization risk to higher-end SKUs bears watching.
May 19Garmin cut Rally power meter prices up to $400 and unveiled Forerunner 70/170 series available May 15.Mixed▶
Garmin cut Rally power meter MSRP $150-$400 on May 14, the second permanent cut in three months (RS210/RK210 from $1,199 to $899). Forerunner 70, 170, and 170 Music launched May 15. JL Audio Primacy premium home audio unveiled May 5; Embraer Best Supplier of the Year award May 6. Stock at $226.89 with $260.60 average PT (15.44% upside). Cash dividend $1.05 ex-div June 15. Q1 record revenue $1.753B (+14%), EPS $2.08; fitness +42%. Bear case: outdoor segment weak in Q1; price cuts on Rally signal demand softness.
May 18No significant overnight updatesNeutral▶
No material news in the last 48 hours. Recent reports earlier in May covered Q1 earnings beat and new Forerunner smartwatch launches, but no material developments in the May 16-18 window.
May 15Garmin to launch Forerunner 70, 170, and 170 Music on May 15 after Q1 record results with sales of $1.75B and 42% fitness segment growth.Positive▶
Garmin is set to release the Forerunner 70, Forerunner 170, and Forerunner 170 Music on Garmin.com starting May 15, 2026. Q1 2026 results were a record with sales of $1.75B and net income of $405M, driven by a 42% increase in fitness segment sales. Full-year 2026 revenue guidance of ~$7.90B was reaffirmed. The company launched the JL Audio Primacy premium home audio system, expanding into high-end audio. Embraer awarded Garmin its Best Supplier of the Year on May 6, marking the 18th top aerospace supplier award. Shares fell 2.23% to $236.97 on May 12. International strength in EMEA/APAC and high-end audio expansion are reshaping investor views on long-term mix. Risk: consumer discretionary softness and competitive smartwatch pressure.
May 14Garmin shares slip 2%+ post-Q1 despite record $1.75B revenue and 42% fitness segment growth; Forerunner 70/170 launch May 15Mixed▶
Garmin reported record Q1 2026 revenue of $1.75 billion with adjusted EPS of $2.08 (vs $1.84 consensus), driven by a 42% increase in fitness segment sales. Despite the beat, shares fell about 2% on inventory concerns, dropping 2.23% on May 12 to $236.97. The company reaffirmed FY26 pro forma EPS view of $9.35. New Forerunner 70, Forerunner 170, and Forerunner 170 Music running watches launch on Garmin.com starting May 15, 2026, with the Forerunner 70 being a lower-cost AMOLED option. Director Jonathan Burrell reported gifts of 870,000 Registered Shares via trusts and GRATs. Garmin won a Best Supplier of the Year Award from Embraer for the 11th consecutive year. Morgan Stanley trimmed target to $249 from $252, Barclays to $238 from $240. Average analyst rating Buy with $260.6 target.
May 13Garmin shares trade around $237 ahead of May 15 launch of new Forerunner 70 and 170 smartwatchesMixed▶
Garmin shares traded between $235.08 and $245.49 on May 12, 2026, closing around $236.97 as investors positioned ahead of the May 15 launch of the new Forerunner 70, Forerunner 170, and Forerunner 170 Music smartwatches priced between $249.99-$349.99. The launch follows record Q1 2026 results announced April 29 showing revenue of $1.75 billion (+14% YoY) and operating income of $432 million (+30% YoY), with the fitness segment surging 42%. Garmin reaffirmed full-year 2026 guidance of approximately $7.9 billion revenue and pro forma EPS of about $9.35, and proposed a 17% dividend increase plus a new $500 million share repurchase program. Analyst opinions are mixed, with Morgan Stanley lowering its price target to $249 and consensus 12-month target at $260.60 with a Buy rating.
May 12Garmin Q1 revenue +14% to record $1.75B with broad-based strength; JPM raises PT to $285Positive▶
Garmin posted record Q1 2026 revenue of $1.75 billion, up 14% YoY, with revenue and profit above Street expectations and double-digit growth in Fitness, Aviation and Marine segments. The company reaffirmed full-year guidance. JPMorgan raised its price target to $285 (from $265) keeping Neutral; Morgan Stanley adjusted to $249 amid record earnings; Barclays lowered to $238 (from $240) at Equal Weight. Among 6 analysts the consensus is Buy with an average PT of $260.60, implying ~7% upside. Garmin also announced the zūmo XT3 motorcycle navigator and Catalyst 2 racetrack performance optimizer. Software updates for Venu 4 and Vivoactive 6 (Beta 17.25) underway.
May 11Garmin posts record Q1 revenue up 14% on 42% fitness segment surge, but shares slip on inventory concerns; JPMorgan raises PT to $285Mixed▶
Garmin reported record Q1 2026 results with revenue up 14% year-over-year to $1.753 billion and EPS of $2.08, beating estimates of $1.81. Net income reached $405 million. Growth was driven by a 42% surge in the fitness segment, while outdoor was down with launches weighted to H2 2026. However, shares slipped over 2% to around $251 post-earnings on rising inventory concerns. The company backed full-year 2026 revenue guidance of approximately $7.9 billion, slightly below consensus of $7.98 billion. JPMorgan raised its price target to $285 from $265, keeping a Neutral rating. Garmin also received its 11th consecutive Best Supplier Award from Embraer. Analyst consensus is Buy with $260.6 price target.
May 8Garmin Q1 beats; wins 11th consecutive Embraer supplier awardPositive▶
Garmin reported strong Q1 2026 results with 14% revenue growth and 14% EPS beat across all divisions. Fitness segment sales jumped 42%. Company received 11th consecutive Best Supplier of the Year Award from Embraer (April 2026) in Electrical/Electronic Systems category for G3000 Prodigy Touch flight deck. Launched premium JL Audio Primacy home audio system and added nutrition tracking to Garmin Connect app. Director Jonathan Burrell made $800K gift of 800,000 shares (May 5). Analyst price targets mixed: JPMorgan raised to $285 from $265, Barclays lowered to $238 from $240. Average rating is "Buy" with 12-month target of $260.6 (+7% upside). Stock at $240.51 reflects strong operational execution and product innovation.
May 7Garmin reports record Q1 2026 revenue of $1.75B, up 14% with 42% fitness growth; receives 11th consecutive Embraer awardPositive▶
Garmin delivered record Q1 2026 consolidated revenue of $1.75B, up 14%, driven by 42% fitness segment sales growth and double-digit expansion in three of five segments. Strong international revenue trends offset some market risks. Company received 11th consecutive Best Supplier of the Year Award from Embraer for electrical/electronic systems. Shares up 9.4% on Q4 beat and strong FY26 guidance. Morgan Stanley lowered PT to $249. JPMorgan raised PT to $285 from $265 with Neutral rating. 6 analysts rate Buy with $260.6 PT (7.1% upside).
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| GRMNGARMIN | $235.42 | -1.15% | +3.6% | 22.8x | 0.92 | $45.3B |
| AMZNAMAZON.COM | $246.09 | +0.03% | -7.1% | 24.9x | 1.44 | $2.65T |
| TSLATESLA | $404.12 | -1.71% | -1.3% | 161.9x | 1.80 | $1.52T |
| HDHOME | $337.09 | +2.20% | +12.4% | 20.9x | 0.97 | $336.1B |
| MCDMCDONALD | $288.02 | +0.66% | +1.9% | 20.3x | 0.41 | $204.6B |
| TJXTJX | $166.36 | -0.58% | +10.7% | 28.9x | 0.62 | $183.7B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price between 50d and 200d. Testing 50d support.