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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.