Garmin’s analyst price target has increased from $218.33 to $231.14. Analysts cite ongoing momentum in the company’s fitness and smart wearables segments, along with strong innovation and resilient demand.

Analyst Commentary

Recent updates from Street research show a divergence of opinion among analysts regarding Garmin’s near-term prospects and valuation. Price targets have moved in both directions, reflecting different views on the company’s growth, resilience, and sector trends.

Bullish Takeaways

• Bullish analysts have highlighted Garmin’s accelerating revenue growth, particularly in its fitness and smart wearables segments. This is seen as a key driver behind recent price target increases.
• There is widespread recognition of Garmin’s strong execution and innovation. These factors are viewed as positioning the company well for ongoing momentum despite broader market volatility.
• Some analysts project a substantial total return potential from current price levels. Raised targets indicate expectations for continued share appreciation over the coming year.
• The company’s core outdoor and fitness business lines are showing notable resilience in the face of a challenging macroeconomic backdrop.

Bearish Takeaways

• Bearish analysts remain cautious about Garmin’s valuation. Some have expressed concerns that current momentum in key segments may not be sustainable through the second half of the year.
• There are reservations regarding the ability of the core business units to maintain their level of demand and growth as broader economic conditions evolve.
• Certain analysts continue to assign Underweight or Underperform ratings. This reflects apprehension about upside potential relative to existing market expectations.

What's in the News

• Garmin updated its earnings guidance for the fiscal year 2025, now anticipating revenue of approximately $7.10 billion and an operating margin of 25.2%.
• The company completed a share repurchase tranche, buying back 159,000 shares valued at $36.5 million from June to September 2025. This contributes to a total of 986,000 shares repurchased for $193.29 million since February 2024.
• Garmin unveiled the GPSMAP 9000xsv series, high-performance chartplotters for pilots and anglers. These devices feature 10-, 13-, and 17-inch 4K touchscreen displays, advanced sonar, and gigabit networking capabilities. Expected availability is November with prices starting at $3,199.99.
• Through a collaboration with Truemed, qualified customers can now use pre-tax HSA/FSA funds for reimbursement of purchases of select Garmin smartwatches, fitness trackers, cycling trainers, and cycling computers.
• Garmin announced the D2 Air X15 and D2 Mach 2 aviator smartwatches with AMOLED displays, advanced avionics connectivity, voice commands, and up to 26 days of battery life. The D2 Air X15 starts at $649.99 and the D2 Mach 2 ranges up to $1,499.99.

Valuation Changes

• Consensus Analyst Price Target has risen from $218.33 to $231.14, reflecting increased optimism about Garmin's market valuation.
• Discount Rate climbed slightly from 7.72% to 7.73%. This suggests a marginally higher expected return requirement by analysts.
• Revenue Growth forecast dipped from 8.16% to 7.67%. This indicates tempered expectations for future sales expansion.
• Net Profit Margin improved from 21.39% to 21.80%. This signals expectations for higher operating profitability.
• Future P/E ratio increased from 28.78x to 29.53x. This implies a modest uplift in anticipated earnings multiples for Garmin shares.