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Garmin (GRMN) Expands Smartwatch Offerings With Venu 3 Series
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Garmin (GRMN - Free Report) seems not to be content enough when it comes to making advances in the booming fitness tracker market on the back of its expanding smartwatch portfolio.
This is evident from its latest unveiling of GPS smartwatches, namely Venu 3 and Venu 3S.
The Venu 3 series is designed to provide a clear picture of users’ health. The series watches are equipped with AMOLED touchscreen displays, an extensive 14-day battery life, a built-in speaker and a microphone.
These smartwatches are comprised of robust healthcare features like sleep coach, which offers a sleep score and personalized coaching that keeps track of different sleep stages, naps, Pulse Ox1 and heart rate variability (HRV) status; morning report, which provides an overview of sleep, recovery and HRV status; nap detection, which tracks or logs naps automatically and Body Battery enhancements, which monitor energy levels throughout the day.
The new series is equipped with wheelchair mode, allowing users to track pushes and follow wheelchair-specific workouts and sports.
It delivers various fitness features and workout benefits like rate of perceived exertion, interval creation and meditation activity.
We note that the above-mentioned features are expected to boost the adoption rate of the Venu 3 series smartwatches in the days ahead.
The latest move bodes well for the company’s growing efforts toward expanding its smartwatch offerings.
The company recently launched a series of premium multisport GPS smartwatches, namely the fenix 7 Pro.
The fenix 7 Pro smartwatches provide pro-grade performance insights to users and feature advanced mapping capabilities. It offers weather map overlays, with the help of which users can view upcoming weather conditions seamlessly.
It also unveiled its next-generation high-performance GPS smartwatch series — epix Pro, which features a crystal-clear AMOLED display and improved battery life.
GRMN added an AMOLED display feature to its Forerunner 265 and Forerunner 965 GPS running watch series.
Forerunner 265 and 965 smartwatches enable users to access health features and smart notifications, seamlessly on the back of the responsive touchscreen displays. These watches also offer other innovative features to athletes, such as a morning report, a race widget, personalized daily suggested workouts, a training readiness score, running power and dynamics and heart rate variability.
The company also added new color options to its small and fashionable smartwatch series, Lily. It unveiled a cream gold bezel with a dust rose case and a silicone band version in Lily’s sports edition, a cream gold bezel with a gray case and an Italian leather band version in Lily’s classic edition.
Growth Prospects
Garmin’s above-mentioned efforts are expected to continue, helping it solidify its presence in the booming smartwatch and wearable markets.
Per a report from Straits Research, the wearable fitness tracker market is expected to hit $192 billion by 2030, seeing a CAGR of 17.5% between 2022 and 2030.
Per a Grand View Research report, the global smartwatch market is anticipated to grow, witnessing a CAGR of 8.2% during the 2022-2030 period.
We believe Garmin’s deepening focus on these promising markets, along with its expanding smartwatch offerings, is expected to aid it in gaining investors’ optimism in the days ahead.
GRMN has gained 14.4% in the year-to-date period, outperforming the industry’s growth of 8.2%.
Image: Bigstock
Garmin (GRMN) Expands Smartwatch Offerings With Venu 3 Series
Garmin (GRMN - Free Report) seems not to be content enough when it comes to making advances in the booming fitness tracker market on the back of its expanding smartwatch portfolio.
This is evident from its latest unveiling of GPS smartwatches, namely Venu 3 and Venu 3S.
The Venu 3 series is designed to provide a clear picture of users’ health. The series watches are equipped with AMOLED touchscreen displays, an extensive 14-day battery life, a built-in speaker and a microphone.
These smartwatches are comprised of robust healthcare features like sleep coach, which offers a sleep score and personalized coaching that keeps track of different sleep stages, naps, Pulse Ox1 and heart rate variability (HRV) status; morning report, which provides an overview of sleep, recovery and HRV status; nap detection, which tracks or logs naps automatically and Body Battery enhancements, which monitor energy levels throughout the day.
The new series is equipped with wheelchair mode, allowing users to track pushes and follow wheelchair-specific workouts and sports.
It delivers various fitness features and workout benefits like rate of perceived exertion, interval creation and meditation activity.
We note that the above-mentioned features are expected to boost the adoption rate of the Venu 3 series smartwatches in the days ahead.
Garmin Ltd. Price and Consensus
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
Strengthening Smartwatch Offerings
The latest move bodes well for the company’s growing efforts toward expanding its smartwatch offerings.
The company recently launched a series of premium multisport GPS smartwatches, namely the fenix 7 Pro.
The fenix 7 Pro smartwatches provide pro-grade performance insights to users and feature advanced mapping capabilities. It offers weather map overlays, with the help of which users can view upcoming weather conditions seamlessly.
It also unveiled its next-generation high-performance GPS smartwatch series — epix Pro, which features a crystal-clear AMOLED display and improved battery life.
GRMN added an AMOLED display feature to its Forerunner 265 and Forerunner 965 GPS running watch series.
Forerunner 265 and 965 smartwatches enable users to access health features and smart notifications, seamlessly on the back of the responsive touchscreen displays. These watches also offer other innovative features to athletes, such as a morning report, a race widget, personalized daily suggested workouts, a training readiness score, running power and dynamics and heart rate variability.
The company also added new color options to its small and fashionable smartwatch series, Lily. It unveiled a cream gold bezel with a dust rose case and a silicone band version in Lily’s sports edition, a cream gold bezel with a gray case and an Italian leather band version in Lily’s classic edition.
Growth Prospects
Garmin’s above-mentioned efforts are expected to continue, helping it solidify its presence in the booming smartwatch and wearable markets.
Per a report from Straits Research, the wearable fitness tracker market is expected to hit $192 billion by 2030, seeing a CAGR of 17.5% between 2022 and 2030.
Per a Grand View Research report, the global smartwatch market is anticipated to grow, witnessing a CAGR of 8.2% during the 2022-2030 period.
We believe Garmin’s deepening focus on these promising markets, along with its expanding smartwatch offerings, is expected to aid it in gaining investors’ optimism in the days ahead.
GRMN has gained 14.4% in the year-to-date period, outperforming the industry’s growth of 8.2%.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader technology sector are Asure Software (ASUR - Free Report) , Applied Materials (AMAT - Free Report) and Adobe (ADBE - Free Report) . Asure Software sports a Zacks Rank #1 (Strong Buy), and Applied Materials and Adobe carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Asure Software shares have gained 34.3% in the year-to-date period. ASUR’s long-term earnings growth rate is projected at 27%.
Applied Materials shares have gained 56.9% in the year-to-date period. The long-term earnings growth rate for AMAT is estimated at 6.1%.
Adobe shares have gained 66.2% in the year-to-date period. ADBE’s long-term earnings growth rate is projected at 13.27%.