Garmin Stock: Is Wall Street Bullish or Bearish?

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 $46.2 billion and offers running and cycling products, smartwatch devices, scales and monitors, sports timing and performance analysis, and more. 

GRMN shares have lagged behind the broader market over the past year and surged 19.5% compared to the S&P 500 Index ($SPX) 27.4% surge. However, in 2026, the stock has grown nearly 18.2%, outperforming the SPX’s 8.8% rise. 

Focusing on its industry benchmark, the State Street Technology Select Sector SPDR ETF (XLK) has risen 55.8% over the past year, outperforming the stock. In 2026, as well, XLK surged 24.1% and has rallied the stock.       

On Apr. 29, GRMN stock rose 2.1% following the release of its Q1 2026 earnings. The company’s revenue for the quarter came in at $1.8 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS for the period amounted to $2.08, also coming in on top of Wall Street’s forecast. Garmin expects full-year earnings to be $9.35 per share, with revenue expected to be $7.9 billion. 

For the current year ending in December, analysts expect GRMN’s EPS to rise 11.8% year over year to $9.57. Moreover, the company has met or surpassed analysts’ consensus estimates in each of the past four quarters. 

Among the eight analysts covering the stock, the consensus rating is a “Hold.” That’s based on two “Strong Buy” ratings, five “Holds,” and one “Moderate Sell.” 

The configuration has turned more bearish over the last month. 

On May 20, Tigress Financial analyst Ivan Feinseth maintained a “Strong Buy” rating for Garmin and raised its price target from $320 to $325. 

GRMN’s mean price target of $261.17 indicates a premium of 8.9% from the current market prices. Its Street-high target of $325 suggests a robust 35.5% upside potential from current price levels.