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News  ›  The Motley Fool

Why Did Garmin Stock Tank Today?

The Motley Fool Logo The Motley Fool • •By Howard Smith
Why Did Garmin Stock Tank Today?

Garmin reported strong Q3 earnings with 12% revenue growth and 30% fitness segment growth, but stock dropped 9.61% due to slower growth compared to previous quarter and high market expectations.

Insights
MSpE   neutral

Analyst Kristine Liwag maintained a hold recommendation with a reduced price target of $45


GRMN   neutral

Despite strong financial performance with 12% revenue growth and raised profit guidance, the stock dropped due to slower growth compared to Q2 and high market expectations. The company maintains a solid financial position with $3.9 billion in cash and strong free cash flow.