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Garmin (GRMN) Boosts Fitness Segment With Forerunner 955 Solar
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Garmin (GRMN - Free Report) recently unveiled a running smartwatch called the Forerunner 955 Solar with solar charging capability. The smartwatch features a power glass solar charging lens, which provides up to 20 days of battery life in smartwatch mode and up to 49 hours in GPS mode.
Its multi-band and multi-satellite system tracking features help runners stay on track in the most challenging environments. Also, its easy-to-handle touchscreen interface helps athletes quickly swipe through maps, stats and more.
Athletes can train effectively with key performance and training tools like VO2 max, training load, performance condition, training effect and more. Indicators, such as HRV status, recent exercise history and performance, equip athletes with greater insights into their overall training.
Additionally, the smartwatch is equipped with advanced health and wellness features like wrist-based pulse Ox monitoring blood oxygen saturation levels and body battery energy monitoring current energy levels to show the best times for activity and rest. The smartwatch also includes menstrual cycle tracking and pregnancy tracking features to help women log their symptoms to get proper information on exercise and nutrition.
Further, the wearable helps swimmers effectively track their distance, stroke, pace, personal records, etc.
The Forerunner 955 Solar is compatible with Garmin Connect, the Tacx training app and other third-party platforms. This will help runners and triathletes sync their indoor and outdoor workouts from these platforms with the wearable, thus taking their training to the next level.
With the recent wearable, Garmin is expected to expand its reach among athletes, runners, swimmers and triathletes looking for advanced fitness tracking smartwatches. This, in turn, is likely to expand its customer base in the days ahead.
The launch of Forerunner 955 Solar smartwatch is expected to aid Garmin in grabbing a plum share in the booming smartwatch market.
The underlined market is witnessing significant growth in recent times owing to the rising adoption of smartwatches. Growing health and fitness awareness among users as well as technological advancements in smartwatches are acting as key catalysts.
Per a Facts and Factors report, the market is expected to hit $97.5 billion by 2028, witnessing a CAGR of 21.5% between 2022 and 2028.
Further, increasing demand for smartwatches is driving the wearable technology market. Notably, the market is likely to reach $74.03 billion by 2026, seeing a CAGR of 17.7% from 2021 to 2026, per a Mordor Intelligence report.
Garmin is consistently working toward providing advanced training solutions and enhanced experience to runners, cyclists, swimmers and athletes.
The latest device expands Garmin’s portfolio of fitness offerings, adding strength to the fitness segment.
Apart from the latest launch last month, GRMN unveiled a rearview radar called Varia RCT715, which comes with a built-in camera and an activated tail light. Garminis expected to gain strong momentum among the cyclists on the back of this radar.
Garmin also introduced a smart fitness tracker, the vivosmart 5, featuring an easy-to-use touchscreen, larger display and impressive battery life. Further, the device is compatible with a smartphone GPS for accurately measuring distance, pace and speed during outdoor walks, runs and bike rides.
In March, Garmin launched Tacx NEO Motion Plates for bringing multidirectional movement to Tacx NEO, NEO 2 and NEO 2T smart trainers. The motion plates offer an enhanced training experience to cyclists, providing them with a feeling of riding outdoors.
Frequent product launches are expected to help Garmin drive its fitness segment’s revenues. Notably, the segment generated $220.9 million worth of sales, accounting for 18.8% of GRMN’s first-quarter 2022 total net sales.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold). Garmin has declined 24% in the year-to-date period compared with the Computer and Technology sector’s fall of 34.6%
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Avnet (AVT - Free Report) , Monolithic Power Systems (MPWR - Free Report) and MaxLinear (MXL - Free Report) . While Avnet and Monolithic Power Systems sport a Zacks Rank #1 (Strong Buy), MaxLinear carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Avnet has gained 16.2% in the year-to-date period. The long-term earnings growth rate for AVT is currently projected at 37.2%.
Monolithic Power Systems has lost 7.7% in the year-to-date period. The long-term earnings growth rate for MPWR is currently projected at 25%.
MaxLinear has declined 46.1% in the year-to-date period. The long-term earnings growth rate for MXL is currently projected at 20%.
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Garmin (GRMN) Boosts Fitness Segment With Forerunner 955 Solar
Garmin (GRMN - Free Report) recently unveiled a running smartwatch called the Forerunner 955 Solar with solar charging capability. The smartwatch features a power glass solar charging lens, which provides up to 20 days of battery life in smartwatch mode and up to 49 hours in GPS mode.
Its multi-band and multi-satellite system tracking features help runners stay on track in the most challenging environments. Also, its easy-to-handle touchscreen interface helps athletes quickly swipe through maps, stats and more.
Athletes can train effectively with key performance and training tools like VO2 max, training load, performance condition, training effect and more. Indicators, such as HRV status, recent exercise history and performance, equip athletes with greater insights into their overall training.
Additionally, the smartwatch is equipped with advanced health and wellness features like wrist-based pulse Ox monitoring blood oxygen saturation levels and body battery energy monitoring current energy levels to show the best times for activity and rest. The smartwatch also includes menstrual cycle tracking and pregnancy tracking features to help women log their symptoms to get proper information on exercise and nutrition.
Further, the wearable helps swimmers effectively track their distance, stroke, pace, personal records, etc.
The Forerunner 955 Solar is compatible with Garmin Connect, the Tacx training app and other third-party platforms. This will help runners and triathletes sync their indoor and outdoor workouts from these platforms with the wearable, thus taking their training to the next level.
With the recent wearable, Garmin is expected to expand its reach among athletes, runners, swimmers and triathletes looking for advanced fitness tracking smartwatches. This, in turn, is likely to expand its customer base in the days ahead.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Focus on Fitness Segment to Drive Growth
The launch of Forerunner 955 Solar smartwatch is expected to aid Garmin in grabbing a plum share in the booming smartwatch market.
The underlined market is witnessing significant growth in recent times owing to the rising adoption of smartwatches. Growing health and fitness awareness among users as well as technological advancements in smartwatches are acting as key catalysts.
Per a Facts and Factors report, the market is expected to hit $97.5 billion by 2028, witnessing a CAGR of 21.5% between 2022 and 2028.
Further, increasing demand for smartwatches is driving the wearable technology market. Notably, the market is likely to reach $74.03 billion by 2026, seeing a CAGR of 17.7% from 2021 to 2026, per a Mordor Intelligence report.
Garmin is consistently working toward providing advanced training solutions and enhanced experience to runners, cyclists, swimmers and athletes.
The latest device expands Garmin’s portfolio of fitness offerings, adding strength to the fitness segment.
Apart from the latest launch last month, GRMN unveiled a rearview radar called Varia RCT715, which comes with a built-in camera and an activated tail light. Garminis expected to gain strong momentum among the cyclists on the back of this radar.
Garmin also introduced a smart fitness tracker, the vivosmart 5, featuring an easy-to-use touchscreen, larger display and impressive battery life. Further, the device is compatible with a smartphone GPS for accurately measuring distance, pace and speed during outdoor walks, runs and bike rides.
In March, Garmin launched Tacx NEO Motion Plates for bringing multidirectional movement to Tacx NEO, NEO 2 and NEO 2T smart trainers. The motion plates offer an enhanced training experience to cyclists, providing them with a feeling of riding outdoors.
Frequent product launches are expected to help Garmin drive its fitness segment’s revenues. Notably, the segment generated $220.9 million worth of sales, accounting for 18.8% of GRMN’s first-quarter 2022 total net sales.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold). Garmin has declined 24% in the year-to-date period compared with the Computer and Technology sector’s fall of 34.6%
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Avnet (AVT - Free Report) , Monolithic Power Systems (MPWR - Free Report) and MaxLinear (MXL - Free Report) . While Avnet and Monolithic Power Systems sport a Zacks Rank #1 (Strong Buy), MaxLinear carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Avnet has gained 16.2% in the year-to-date period. The long-term earnings growth rate for AVT is currently projected at 37.2%.
Monolithic Power Systems has lost 7.7% in the year-to-date period. The long-term earnings growth rate for MPWR is currently projected at 25%.
MaxLinear has declined 46.1% in the year-to-date period. The long-term earnings growth rate for MXL is currently projected at 20%.