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Schaffhausen, Switzerland-based Garmin Ltd. (GRMN) designs, develops, manufactures, markets, and distributes a diverse range of GPS-enabled products and navigation, communications, sensor-based, and information products and services worldwide. The company has a market cap of $56.5 billion and offers running and cycling products, smartwatch devices, scales and monitors, sports timing and performance analysis, and more.
GRMN stock has rallied the broader market over the past year, surging 27.4% compared to the S&P 500 Index’s ($SPX) 19.5% surge. Moreover, in 2026, the stock has grown by nearly 44.5%, outperforming the SPX’s 11.6% rise.
Focusing on its industry benchmark, the State Street Technology Select Sector SPDR ETF (XLK) has risen 40.9% over the past year, outperforming the stock. In 2026, XLK has grown 27.2% and has lagged behind the stock.
On July 29, GRMN stock rose 16.2% following the release of its better-than-expected Q2 2026 earnings. The company’s revenue for the quarter amounted to $2 billion, surpassing Wall Street’s estimates. Moreover, its adjusted EPS came in at $2.81, also topping the Street’s forecasts. The company also raised its full-year guidance, with its EPS to be $10 and its revenue to be $8.1 billion.
For the current year, which ends in December, analysts expect GRMN’s EPS to increase 17.8% to $10.08 on a diluted basis. The company met or surpassed the consensus estimate in each of the last four quarters.
Among the eight analysts covering GRMN stock, the consensus is a “Moderate Buy.” That’s based on three “Strong Buy” ratings, four “Holds,” and one “Moderate Sell.”
The configuration has grown bullish over the past months, with the stock having an overall Moderate Buy rating, as compared to a Hold rating a month ago.
On Aug. 6, Tigress Financial analyst Ivan Feinseth maintained a “Buy” rating for GRMN and raised its price target from $325 to $370.
GRMN’s mean price target of $294.14 offers a marginal upside compared to the current market price. Its Street-high target of $370 implies a 26.2% upside from current levels.
