Garmin ( (GRMN) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Garmin shares are under pressure today even though the company just posted a blowout third-quarter earnings report, with revenue jumping 24 percent and earnings per share easily beating expectations. The selling comes as investors reassess how long this pace of growth can last after such a strong surprise.
The company also raised its full-year revenue and profit guidance, supported by robust double-digit growth in its fitness, outdoor, and marine segments. Expanding gross margins and strong cash flow underline a solid long-term story, but they have not been enough to prevent the stock from slipping in the short term.
More about Garmin
YTD Price Performance: 13.90%
Average Trading Volume: 983,003
Technical Sentiment Signal: Strong Buy
Current Market Cap: $44.3B
For further insights into GRMN stock on TipRanks’ Stock Analysis page.
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