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Garmin

Garmin produces GPS-enabled hardware and software for five verticals: fitness, outdoors, auto, aviation, and marine. The company relies on licensing mapping data to enable its hardware specialized for often niche activities like scuba diving or sailing. Garmin operates in 100 countries and sells its products via distributors as well as relationships with original equipment manufacturers.

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Garmin (NYSE: GRMN) launched the JL Audio MediaMaster 55 and 55-HR next-generation marine and powersports source units.

Garmin Expands Marine Portfolio With MM55 &amp; 55-HR Devices

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3D Systems (NYSE: DDD) is expanding its footprint in the additive manufacturing landscape through its recent partnership with Precision Resource, a renowned leader in producing critical components for the automotive, heavy-duty, aerospace and medical device industries.

3D Systems Expands Portfolio With Precision Partnership

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Garmin (NYSE: GRMN) unveiled the smart cycling computer, namely Edge 1050, in order to strengthen its fitness offerings.

The new cycling computer features improved battery life, superior navigation, performance tracking, cycling awareness and smart connectivity.

Garmin Boosts Fitness Offerings With Edge 1050 Launch

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Garmin stock downgraded to Underperform by B of A analyst due to concerns about growth momentum and valuation. Q1 results beat estimates.

Why Is Garmin Stock Falling Today?

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Garmin reported Q1 2024 results with 20% revenue growth, beating consensus. Fitness, Outdoor, Marine, and Auto segments all saw growth. Dividend and FY24 outlook were reiterated.

Garmin&#39;s Advanced Wearables Are In Demand, Surprises With Q1 Profit Growth

Garmin Ltd

Garmin (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grmn#NYSE">GRMN</a>) launched the JL Audio MediaMaster&nbsp;55 and 55-HR next-generation marine and powersports source units.
The MM55 features a 2.8-inch full-color LCD display with larger icons, simplified menus and a refreshed color palette, while the MM55-HR is a versatile helm device that can be mounted in various areas around a boat or vehicle, enhancing its efficiency.
These devices also offer connectivity options like digital AM/FM tuner, DAB+ radio, Bluetooth, analog AUX input and USB connection. With advanced Bluetooth Low Energy technology, users can control the devices using the MediaMaster Remote App or a compatible multifunction display.
Garmin is expected to gain solid traction across anglers, sailors, mariners and boat owners on the back of its newly launched devices.
<div class="chart_embed">
<h3>Garmin Ltd. Price and Consensus</h3>
<img alt="Garmin Ltd. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/9d/1721223059.png" style="height:281px; width:620px" title="" />
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
</div>
<h3>Expanding Marine Portfolio Aid Prospects</h3>
Per a Skyquest report, the global marine electronics market is expected to reach $8.13 billion by 2030, witnessing a CAGR of 5.2% between 2023 and 2030. Garmin is well-positioned to capitalize on this solid growth opportunity on the back of its expanding marine offerings.
Recently, the company introduced the Panoptix PS22-IF Ice Fishing Bundle, a live sonar solution for hardwater anglers. The bundle features an ECHOMAP UHD2 73sv touchscreen combo and two Panoptix sonar modes for ice fishing.
Garmin introduced the Force Kraken trolling motor series, available with a 48-inch shaft length for smaller boat sizes. Its wireless integration with Garmin chartplotters and smartwatches allows for easy route creation and installation of live sonar. Anglers can navigate from anywhere with the included wireless remote, and a compatible Garmin smartwatch can be connected for control.
It also expanded its GPSMAP x3 family with the introduction of GPSMAP 16x3 chartplotters. These chartplotters boast a high-resolution 16-inch touchscreen display with built-in navigation and sonar support, offering superior clarity and sunlight readability, even with polarized sunglasses.
<h3>Portfolio Strength: Key Catalyst</h3>
Garmin shares have rallied 36.5% in the year-to-date period, outperforming the industry&#39;s growth of 13.9%. The company has been riding on its portfolio strength. Hence, expanding marine offerings bodes well for its overall portfolio strength.
Garmin recently added two slimline radios to the GTR 205 COMM radio series for the experimental aviation market. The newly launched GTR 205x and GTR 205xR are all-in-one radios and stereo intercoms with Bluetooth functionality for phone calls and media entertainment. Pilots can stream music, receive calls, view phone numbers, and see device strength and battery life on the panel-mount version.
It expanded its outdoor offerings with the launch of a laser range finder, Approach Z30, to deliver an enhanced experience to golfers with its advanced ranging performance and Range Relay feature.
Garmin also partnered with Alphabet&#39;s Google to bolster its smartwatch offerings.
Per the terms, Alphabet&#39;s YouTube Music app is now available on Garmin IQ Connect smartwatches, allowing users to add playlists and podcasts to their devices.
A strengthening portfolio is expected to continue driving Garmin&#39;s overall financial performance in the upcoming period.
For 2024, Garmin expects total revenues of $5.75 billion. The Zacks Consensus Estimate for 2024 total revenues stands at $5.90 billion, indicating year-over-year growth of 12.9%.
It expects 2024 earnings at $5.40 per share. The consensus mark for 2024 earnings is pegged at $5.77 per share, indicating a 3.2% rise from the year-ago figure. The figure has been revised upward by 0.5% in the past 60 days.
<h3>Zacks Rank &amp; Other Stocks to Consider</h3>
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are PayPal (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pypl#NASDAQ">PYPL</a>) and Badger Meter (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmi#NYSE">BMI</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
PayPal shares have gained 0.7% in the year-to-date period. The long-term earnings growth rate for PYPL is 14.79%.
Badger Meter shares have gained 27% in the year-to-date period. The long-term earnings growth rate for BMI is currently projected at 15.57%.
<a href="https://www.zacks.com/stock/news/2303697/garmin-grmn-expands-marine-portfolio-with-mm55-55-hr-devices?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2303697">To read this article on Zacks.com click here.</a>

Garmin Expands Marine Portfolio With MM55 & 55-HR Devices

3D Systems (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ddd#NYSE">DDD</a>) is expanding its footprint in the additive manufacturing landscape through its recent partnership with Precision Resource, a renowned leader in producing critical components for the automotive, heavy-duty, aerospace and medical device industries.
The collaboration aims to scale and accelerate additive manufacturing by leveraging the combined expertise of organizations and integrating the 3D Systems advanced Direct Metal Printing (DMP) platform into Precision Resource&#39;s manufacturing processes.
Through this collaboration, Precision Resource will enhance its AS9100-certified Huntington Beach, CA facility with the addition of two 3D Systems DMP Flex 350 Dual 3D printers.
The integration aims to provide new solutions to meet evolving customer needs, address supply chain challenges and open new market opportunities through a robust end-to-end manufacturing solution for high-criticality components.
<h3>3D Systems Benefits From Robust Portfolio</h3>
The latest move bodes well with DDD&#39;s focus on expanding its additive manufacturing capabilities and addressing supply chain challenges through strategic partnerships and advanced technology integration.
3D Systems expects the additive manufacturing industry to witness a CAGR of more than 20% over the next five to seven years, hitting $80 billion during this timeframe. This opportunity bodes well for DDD, given its portfolio strength and high investments in research &amp; development.
DDD&#39;s increasing demand for metal 3D printing services has been a major growth driver. In March, the company announced that Wilting, an industrial machining and metal 3D printing service provider, expanded its manufacturing capabilities with three new DMP Flex 350 metal 3D printers, enhancing production capacity and material diversity to meet growing customer demands.
DDD also announced that WeAreAM in Italy added the DMP Flex 350 Dual to its Center of Excellence, enhancing its additive manufacturing capabilities across various industrial markets.
Further expanding its portfolio, DDD recently announced the EXT 800 Titan Pellet, a compact and cost-effective addition to its pellet extrusion systems. It offers faster print speeds and lower material costs for diverse manufacturing applications.
<h3>DDD Stock Down on Persistent Headwinds</h3>
Despite 3D System&#39;s robust portfolio, macroeconomic and geopolitical uncertainties have been a concern. Persistent inflation have kept customer budgets under pressure.
Increasing competition, particularly from new entrants in China in the hardware side of the business, has been a headwind.
These factors have hurt performance in the year-to-date period, with DDD shares declining 44.8% against the Zacks Computer &amp; Technology sector&#39;s return of 29.6%.
For 2024, DDD projects non-GAAP revenues to be between $475 million and $505 million. The Zacks Consensus Estimate for revenues is pegged at $486.01 million, indicating a 0.42% decline year over year.
The Zacks Consensus Estimate for earnings is pegged at a loss of 10 cents per share, unchanged in the past 30 days.
<h3>Zacks Rank &amp; Stocks to Consider</h3>
Currently, 3D Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>) and Dropbox (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbx#NASDAQ">DBX</a>), each sporting a Zacks Rank #1(Strong Buy), while Garmin (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grmn#NYSE">GRMN</a>) carries a Zacks Rank #2 (Buy) at present.
Arista Networks&#39; shares have gained 57.6% in the year-to-date period. The long-term earnings growth rate for ANET is pegged at 16.07%.
Garmin&#39;s shares have gained 25.7% in the year-to-date period. The long-term earnings growth rate for GRMN is pegged at 8.04%.
Shares of Dropbox have declined 24.6% in the year-to-date period. The long-term earnings growth rate for DBX is pegged at 11.44%.
<a href="https://www.zacks.com/stock/news/2298699/3d-systems-ddd-expands-portfolio-with-precision-partnership?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2298699">To read this article on Zacks.com click here.</a>

Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), the world&#39;s most innovative and recognized marine electronics manufacturer, today announced it was selected as the exclusive marine electronics and audio supplier for Independent Boat Builders, Inc. (IBBI), the industry&#39;s largest purchasing cooperative. Beginning model year 2025, this agreement gives IBBI member-owners direct access to Garmin&#39;s full line of marine electronics and audio solutions, including JL Audio&reg;, Fusion&reg;&nbsp;and Clarion Marine, through 2029. Comprised of a 15-owner network of leading boat brands, IBBI members collectively build more than&nbsp;25%&nbsp;of all boats sold in the U.S.
<a href="https://mma.prnewswire.com/media/2451039/Garmin_selected_by_IBBI.html" target="_blank"><img alt="Garmin was selected as the exclusive marine electronics and audio supplier for Independent Boat Builders, Inc. (IBBI), the industry's largest purchasing cooperative, through 2029." src="https://mma.prnewswire.com/media/2451039/Garmin_selected_by_IBBI.jpg" /></a>
&quot;We are so pleased to extend and strengthen our long-standing relationship with these boat builders to include both electronics and audio exclusively from Garmin. From chartplotters and navigation with leading Garmin Navionics+&trade;&nbsp;mapping to trolling motors, stereos, speakers and more, Garmin offers a robust product portfolio known for quality and innovation&mdash;backed by award-winning support&mdash;that will continue to benefit our mutual customers now and into the future.&quot;
&ndash;Dan Bartel,&nbsp;Garmin&nbsp;Vice President of Global Consumer Sales
IBBI member-owners have chosen Garmin for over a decade. Prior to becoming its exclusive marine electronics supplier in 2018, Garmin had been a supplier of choice for IBBI since 2014. In 2019, audio was added when Fusion was named IBBI&#39;s marine stereo and entertainment supplier of choice. Garmin was also the recipient of IBBI&#39;s prestigious Supplier of the Year award in 2018, 2019 and 2024, a direct result of its dedication to IBBI boat builders and the group&#39;s collective customers.&nbsp;&nbsp;&nbsp;
&quot;Garmin continues to set the standard when it comes to product innovation and customer service, and we are proud to continue doing business with such a trusted and recognized manufacturer. From product quality to support, the members of IBBI continue to be impressed with Garmin and the great benefits they provide to the end customer so extending our agreement was an easy decision.&quot;
&ndash;Tom&nbsp;Broy, IBBI President&nbsp;

Garmin Secures 5-Year Deal as Sole Electronics and Audio Supplier for IBBI Boat Builders

Garmin (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grmn#NYSE">GRMN</a>) unveiled the smart cycling computer, namely Edge 1050, in order to strengthen its fitness offerings.
The new cycling computer features improved battery life, superior navigation, performance tracking, cycling awareness and smart connectivity.
The Edge 1050 is equipped with safety and tracking features like LiveTrack and incident detection. It is also compatible with the Varia line of cycling awareness devices and inReach satellite communicators.
With the new smart cycling computer, Garmin aims to provide an enhanced riding experience to cyclists. Using Edge 1050, cyclists can receive road hazard alerts reported by fellow cyclists, and check in-ride messaging and leaderboards during group rides.
<div class="chart_embed">
<h3>Garmin Ltd. Price and Consensus</h3>
<img alt="Garmin Ltd. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/6a/1719586026.png" style="height:283px; width:621px" title="" />
Garmin Ltd. price-consensus-chart | Garmin Ltd. Quote
</div>
<h3>Expanding Offerings for Cyclists</h3>
The latest launch has expanded Garmin&#39;s offerings for cyclists. The company has been witnessing strong traction among cycle enthusiasts on the back of its robust portfolio.
Garmin&#39;s Edge 1040 Solar, which features solar charging capability and multi-band GNSS technology, helps cyclists to ride confidently on challenging roads.
Garmin&#39;s Varia RCT715 rearview radar, featuring a camera and tail light, aims to provide cyclists with enhanced visibility of approaching vehicles during a ride.
The company offers Tacx NEO Motion Plates, which provide movement flexibility and allow trainers to adopt a natural riding position for effective training.
It also offers GPS cycling computers named Edge Explore 2 and Edge Explore 2 Power Mount Bundle.
<h3>Fitness Business: Key Catalyst</h3>
Expanding offerings for cyclists are bolstering Garmin&#39;s fitness segment, which is the key catalyst.
Apart from cycling devices, Garmin&#39;s strong portfolio of wearables is driving the underlined segment&#39;s performance.
The expanding Venu, Lily and vivoactive smartwatch series, which offer new health and wellness features, including body battery energy monitoring, advanced sleep monitoring, stress, respiration and heart rate tracking, have been driving Garmin&#39;s customer momentum in the smartwatch and wearable markets.
The Fitness segment generated sales of $342.9 million in first-quarter 2024, accounting for 24.8% of total sales, increasing 40% year over year.
The Zacks Consensus Estimate for 2024 Fitness revenues is pegged at $1.54 billion, indicating a growth of 14.6% year over year.
The strengthening performance of the fitness segment will drive GRMN&#39;s overall financial performance in the near term.
For 2024, Garmin expects total revenues of $5.75 billion. The Zacks Consensus Estimate for the same stands at $5.90 billion, indicating year-over-year growth of 12.9%.
The company projects 2024 earnings at $5.40 per share. The consensus mark for 2024 earnings is pegged at $5.77 per share, indicating a 3.2% rise from the year-ago reported figure. The figure has been revised upward by 5.9% in the past 60 days.
<h3>Zacks Rank &amp; Other Stocks to Consider</h3>
Currently, Garmin sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the broader technology sector are Arista Networks (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), Dropbox (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dbx#NASDAQ">DBX</a>) and CACI International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/caci#NYSE">CACI</a>). While Arista Networks and Dropbox sport a Zacks Rank #1 (Strong Buy), CACI International carries a Zacks Rank #2 (Buy) at present.
Arista Networks&#39; shares have gained 42.1% in the year-to-date period. The long-term earnings growth rate for ANET is expected to be 16.07%.
CACI International&#39;s shares have gained 34.2% in the year-to-date period. The long-term earnings growth rate for CACI is projected at 10.35%.
Shares of Dropbox have declined 26% in the year-to-date period. The long-term earnings growth rate for DBX is 11.44%.
<a href="https://www.zacks.com/stock/news/2295200/garmin-grmn-boosts-fitness-offerings-with-edge-1050-launch?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2295200">To read this article on Zacks.com click here.</a>

Management

Garmin Appoints Patrick Desbois And Brad Trenkle As Co-COO Effective July 1, 2024

<a href="https://x.com/CitronResearch/status/1801256950186836272">https://x.com/CitronResearch/status/1801256950186836272</a>
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AAPL

Citron Research Posts On X "$GRMN could potentially revert to $100 within the next 12 months. The company may face challenges as the latest Apple Watch updates diminish its competitive edge. While Garmin will retain a dedicated enthusiast base, numerous reviews of the Apple Watch update suggest that Apple is now 90% comparable to Garmin in terms of fitness tracking capabilities."

<a href="https://x.com/CitronResearch/status/1800551358879117715">https://x.com/CitronResearch/status/1800551358879117715</a>
<a href="https://x.com/search?q=%24GRMN&amp;src=cashtag_click">$GRMN</a> Negative. While the street is buzzing about <a href="https://x.com/search?q=%24AAPL&amp;src=cashtag_click">$AAPL</a>'s new AI integration, the real loser from their developer conference seems to be <a href="https://x.com/search?q=%24GRMN&amp;src=cashtag_click">$GRMN</a>. Despite <a href="https://x.com/search?q=%24GRMN&amp;src=cashtag_click">$GRMN</a> trading at historically high multiples, its core fitness products just took a hit. With the new Apple Watch OS11 making Apple Watch the top fitness accessory, including satellite messaging, training load features, and comprehensive vitals tracking, Garmin's fitness products have become less relevant. Credit to Garmin for evolving from personal navigation devices to its current state, but it shouldn't be trading at historically high multiples as its fast-growing fitness segment just hit a wall in Cupertino.

Citron Research Posts On X "$GRMN Negative. While the street is buzzing about $AAPL's new AI integration, the real loser from their developer conference seems to be $GRMN. Despite $GRMN trading at historically high multiples, its core fitness products just took a hit. With the new Apple Watch OS11 making Apple Watch the top fitness accessory, including satellite messaging, training load features, and comprehensive vitals tracking, Garmin's fitness products have become less relevant...."

Garmin Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares are trading lower after&nbsp;BofA Securities&nbsp;analyst Ronald J. Epstein&nbsp;downgraded the stock to Underperform from Neutral and cut the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GRMN/analyst-ratings" rel="noreferrer noopener">price target from $165 to $150</a>.
The analyst writes that in the first quarter, Garmin demonstrated the strength of its brand and the resiliency of its customers and witnessed growth across segments.&nbsp;However, the analyst worries that the momentum is decelerating, implying that the current valuation is unsustainable.&nbsp;
Epstein says that the company&#8217;s AutoOEM segment continues to ramp production and remains on track to hit the $800 million revenue target in 2025.&nbsp;
The analyst expects the segment to reach breakeven in 4Q24 and sees an upside risk as Garmin&#8217;s domain controllers will be spread across all Bayerische Motoren Werke AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) BMW&#8216;s fleets with the iDrive infotainment systems. 
The rapidly growing Auto contribution to total revenues is expected to pose a headwind to company margins, and the analyst projects revenue of $635 million at an operating margin of (4.3%). Epstein estimates EPS of $5.66 in FY24 and $6.50 in FY25.
This month, Garmin reported&nbsp;first-quarter&nbsp;revenue increase of 20%&nbsp;to $1.38 billion, surpassing estimates;&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38552073/garmins-advanced-wearables-are-in-demand-surprises-with-q1-profit-growth" rel="noreferrer noopener">proforma EPS of $1.42 beat the consensus</a>.
Garmin stock gained 55% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Global X&nbsp;Internet Of Things ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNSR#NASDAQ">SNSR</a>) and&nbsp;Procure Space&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>).
Price Action: GRMN shares are down 4.92% at $162.33 at the last check Wednesday. 
Photo via Wikimedia Commons

WIIM

Garmin shares are trading lower after B of A Securities downgraded the stock from Neutral to Underperform and lowered its price target from $165 to $150.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Stifel boosted the price target for Curtiss-Wright Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CW#NYSE">CW</a>) from $293 to $310. Stifel analyst Nathan Jones maintained a Buy rating. Curtiss-Wright shares gained 2.1% to close at $285.21 on Tuesday. <a href="https://www.benzinga.com/quote/CW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut the price target for Nordson Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDSN#NASDAQ">NDSN</a>) from $303 to $272. Baird analyst Michael Halloran maintained an Outperform rating. Nordson shares dipped 9.4% to close at $243.14 on Tuesday. <a href="https://www.benzinga.com/quote/NDSN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. raised Transcat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNS#NASDAQ">TRNS</a>) price target from $124 to $156. HC Wainwright &amp; Co. analyst Scott Buck maintained a Buy rating. Transcat shares rose 14.3% to close at $141.86 on Tuesday. <a href="https://www.benzinga.com/quote/TRNS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group boosted the price target for Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>) from $48 to $49. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating. Urban Outfitters shares fell 0.3% to close at $41.32 on Tuesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Mizuho cut Globant S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOB#NYSE">GLOB</a>) price target from $279 to $252. Mizuho analyst Dan Dolev maintained a Buy rating. Globant shares rose 1.5% to close at $174.00 on Tuesday. <a href="https://www.benzinga.com/quote/GLOB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley cut AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) price target from $3,100 to $3,038. Morgan Stanley analyst Simeon Gutman maintained an Overweight rating. AutoZone shares fell 3.5% to close at $2,820.83 on Tuesday. <a href="https://www.benzinga.com/quote/AZO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities raised the price target for Willis Towers Watson Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTW#NASDAQ">WTW</a>) from $272 to $304. B of A Securities analyst Joshua Shanker upgraded the stock from Underperform to Neutral. Willis Towers Watson shares rose 0.3% to close at $253.89 on Tuesday. <a href="https://www.benzinga.com/quote/WTW/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Goldman Sachs raised Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) price target from $67 to $74. Goldman Sachs analyst Gabriela Borges upgraded the stock from Neutral to Buy. Shopify shares fell 3.2% to close at $57.02 on Tuesday. <a href="https://www.benzinga.com/quote/SHOP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities slashed Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) price target from $165 to $150. B of A Securities analyst Ronald Epstein downgraded the stock from Neutral to Underperform. Garmin shares gained 0.3% to close at $170.73 on Tuesday. <a href="https://www.benzinga.com/quote/GRMN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted WSFS Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSFS#NASDAQ">WSFS</a>) price target from $45 to $48. Piper Sandler analyst Frank Schiraldi maintained a Neutral rating. WSFS Financial shares fell 0.6% to close at $45.28 on Tuesday. <a href="https://www.benzinga.com/quote/WSFS/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/05/38956361/target-nvidia-and-3-stocks-to-watch-heading-into-wednesday">Target, Nvidia And 3 Stocks To Watch Heading Into Wednesday</a>

B of A Securities analyst Ronald Epstein downgrades Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) from Neutral to Underperform and lowers the price target from $165 to $150.

B of A Securities Downgrades Garmin to Underperform, Lowers Price Target to $150

Tigress Financial analyst Ivan Feinseth maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Strong Buy and raises the price target from $175 to $210.

Tigress Financial Maintains Strong Buy on Garmin, Raises Price Target to $210

<ul>
<li>Vuzix&#xAE; Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VUZI#NASDAQ">VUZI</a>), ("Vuzix" or, the "Company"), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, is pleased to announce that the Company has signed a multi-phase development contract with Garmin for next generation nano-imprinted waveguide-based display system.</li>
</ul>

VUZI

Garmin And Vuzix Sign Multi-Phase Development Contract For Next-Generation Nano-Imprinted Waveguide-Based Display System

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/05/07/final-trades-amazon-google-avalonbay-and-garmin.html">Halftime Report Final Trades</a>,&#8221; Joshua Brown of Ritholtz Wealth Management named Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) as <a href="https://www.benzinga.com/markets/equities/24/05/38667074/amazon-storms-into-south-africa-makes-waves-with-local-and-international-brands">his final trade</a>.
Amazon just launched Amazon.co.za, its online shopping service in South Africa. 
Customers in South Africa will be able to shop from a selection of local and international brands across 20 different product categories.
Jason Snipe of Odyssey Capital Advisors said Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) reported a 46% increase in operating income. &#8220;There's more room to go,&#8221; he added.
Alphabet is leveraging generative artificial intelligence (AI) for practical applications, focusing on cybersecurity with its new product, <a href="https://www.benzinga.com/news/24/05/38684470/google-to-wield-ai-for-new-cybersecurity-tool-dubbed-threat-intelligence">Google Threat Intelligence</a>.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
Stephanie Link of Hightower picked AvalonBay Communities, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVB#NYSE">AVB</a>).
On May 7, AvalonBay Communities priced its $400 million senior notes offering.
Joseph M. Terranova of Virtus Investment Partners named Garmin Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NASDAQ">GRMN</a>), calling it as &#8220;interesting name.&#8221;
On May 1, Garmin reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to $1.38 billion, beating the consensus of $1.25 billion. 
The GPS navigation and wearable technology company&#8217;s proforma EPS of $1.42 beat the consensus of $1.01. Garmin reiterated a revenue outlook of $5.75 billion versus the consensus of $5.73 billion.
Price Action:
<ul>
<li>Amazon shares rose 0.03% to close at $188.76 on Tuesday.</li>
<li>Alphabet shares gained 1.9% to settle at $171.25 during Tuesday's session.</li>
<li>AvalonBay Communities shares rose 0.4% to settle at $195.89 on Tuesday.</li>
<li>Garmin shares gained 1.2% to close at $169.96 on Tuesday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38667879/jim-cramer-calls-nutanix-the-perfect-enterprise-software-company-for-the-moment">Jim Cramer Calls Nutanix &#8216;The Perfect Enterprise Software Company For The Moment</a>&#8216;
Image: Shutterstock

Amazon, Alphabet, Garmin And A Real Estate Stock On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: Amazon.Com, Garmin, AvalonBay Communities, Alphabet Inc. - Class A

These large-cap stocks were the best performers in the last week amid earnings season. Are they in your portfolio?
<ol>
<li>Carvana Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares escalated 39.1% after it reported Q1 revenue of&nbsp;$3.061 billion, which beat the&nbsp;consensus&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38566697" rel="noreferrer noopener">estimate&nbsp;of&nbsp;$2.673 billion</a>. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38594906" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>NIO Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares jumped 21.5% after the&nbsp;company's&nbsp;April&nbsp;vehicle deliveries increased&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38547416" rel="noreferrer noopener">134.6%&nbsp;year-over-year</a>.</li>
<li>Paramount Global&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) shares surged 21.5% after it reported first-quarter&nbsp;revenue of&nbsp;$7.685 billion, which missed the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38503655" rel="noreferrer noopener">consensus estimate of&nbsp;$7.732 billion</a>. The company said CEO&nbsp;Bob Bakish&nbsp;is stepping down from the studio. Paramount reportedly got a $26 billion acquisition offer from&nbsp;Sony Group Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38598651" rel="noreferrer noopener">Apollo Global Management, Inc.</a><a target="_blank" href="https://www.benzinga.com//node/38598651" rel="noreferrer noopener">&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>)</a>.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) shares rose 20.0% after it reported first-quarter sales of $5.37 billion — beating the consensus of $5.15 billion — and also <a href="https://www.benzinga.com//node/38523582" target="_blank" rel="noreferrer noopener">raised the FY24 outlook</a>. Multiple firms raised their <a href="https://www.benzinga.com/quote/THC/analyst-ratings" target="_blank" rel="noreferrer noopener">respective price targets on the stock</a>.</li>
<li>Pinterest, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) shares increased 19.9% after the company reported&nbsp;first-quarter&nbsp;revenue of&nbsp;$740 million, which beat the&nbsp;consensus estimate&nbsp;of&nbsp;$699.872 million and a loss per share of $0.04, which beat analyst estimates&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38534719" rel="noreferrer noopener">for a loss of $0.09 per share</a>. Several analysts raise&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38558198" rel="noreferrer noopener">forecasts&nbsp;on the stock</a>.</li>
<li>Bio-Techne Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>) increased 17.2% following upbeat Q3 quarterly results and the announcement of a distribution <a href="https://www.benzinga.com//node/38544446" target="_blank" rel="noreferrer noopener">agreement with Thermo Fisher Scientific</a>.</li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) shares were up 14.9%  after the company reported better-than-expected Q1 revenue of $1.82 billion, beating the consensus of $1.736 billion, and adjusted EPS stood at $0.57, <a href="https://www.benzinga.com//node/38591577" target="_blank" rel="noreferrer noopener">beating the consensus of $0.52</a>. Few analysts raised the <a href="https://www.benzinga.com/quote/HWM/analyst-ratings" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Garmin Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares grew 13.9% after it reported&nbsp;first-quarter&nbsp;FY24 revenue of&nbsp;$1.38 billion, beating the&nbsp;consensus of&nbsp;$1.25 billion and proforma EPS of&nbsp;$1.42&nbsp;beat&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38552073" rel="noreferrer noopener">the&nbsp;consensus of&nbsp;$1.01</a>.&nbsp;Some analysts raised&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GRMN/analyst-ratings" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) shares are up 12.5% after it reported sales of $167 million, beating the consensus of $97.5 million, and reported <a href="https://www.benzinga.com//node/38592653" target="_blank" rel="noreferrer noopener">smaller-than-expected Q1 losses</a>.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares are up 12.5%. The company reported better-than-expected <a href="https://www.benzinga.com//node/38498046" target="_blank" rel="noreferrer noopener">first-quarter results last Thursday</a>. </li>
<li>Woodward, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) shares increased 11.2% after&nbsp;the company reported&nbsp;better-than-expected&nbsp;Q2&nbsp;financial results and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38502107" rel="noreferrer noopener">raised&nbsp;FY24 guidance</a>.</li>
<li>KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) shares are up 9.7%.</li>
<li>JD.Com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares grew 9.2%.</li>
<li>Amcor Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) shares gained 9.1%.</li>
<li>Mobileye Global Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares rose 8.9%.</li>
</ol>
See Also: <a href="https://www.benzinga.com/24/05/38633879/last-weeks-worst-performing-stocks-are-these-15-large-cap-stocks-in-your-portfolio-april-28-may-4-20">Last Week&#8217;s Worst-Performing Stocks: Are These 15 Large-Cap Stocks In Your Portfolio? (April 28-May 4, 2024)</a>
Photo: Shutterstock

JP Morgan analyst Joseph Cardoso maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Neutral and raises the price target from $155 to $175.

JP Morgan Maintains Neutral on Garmin, Raises Price Target to $175

Barclays analyst George Wang maintains Garmin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) with a Equal-Weight and raises the price target from $140 to $166.

Barclays Maintains Equal-Weight on Garmin, Raises Price Target to $166

Shares of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) fell sharply during Wednesday's session as the company reported first-quarter results and issued revenue <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">guidance for the second quarter</a>.
AMD guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53% against Street estimates of $5.7 billion in second-quarter revenue. Street expectations for fiscal year 2024 are for earnings of $3.40 per share and revenue of $24.13 billion, respectively, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Advanced Micro Devices shares dipped 6.9% to $147.44 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>CytomX Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTMX#NASDAQ">CTMX</a>) shares jumped 97.5% to $3.2199. CytomX Therapeutics will report first quarter 2024 results and issue an initial CX-904 Phase 1a clinical data update on May 8.</li>
<li>IM Cannabis Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMCC#NASDAQ">IMCC</a>) gained 41.3% to $1.2150 after jumping around 54% on Tuesday.</li>
<li>Akanda Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAN#NASDAQ">AKAN</a>) gained 39.5% to $0.1295. Shares of cannabis-related stocks traded higher following reports suggesting the DEA plans to reclassify cannabis as a less dangerous drug.</li>
<li>Getaround, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GETR#NYSE">GETR</a>) rose 35% to $0.2741 after the company announced it secured up to $50 million in additional financing.</li>
<li>Rocky Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKY#NASDAQ">RCKY</a>) gained 31.6% to $33.93 after the company reported better-than-expected quarterly financial results.</li>
<li>Palisade Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PALI#NASDAQ">PALI</a>) shares climbed 28% to $7.72 after the company announced completion of its analysis to determine the effects of bioactivated PALI-2108 on TNF-α production in a whole blood assay.</li>
<li>TransMedics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) shares rose 28% to $120.26 after the company raised its 2024 guidance.</li>
<li>Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) gained 27.2% to $32.69 following strong quarterly results.</li>
<li>DecisionPoint Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPSI#NASDAQ">DPSI</a>) rose 24.6% to $10.03 as the company agreed to go private in all-cash transaction.</li>
<li>CareDx, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) rose 23.4% to $9.59. CareDx is expected to report financial results for the first quarter 2024 after the closing bell on Thursday, May 9.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) jumped 23.2% to $176.16 after the company reported better-than-expected second-quarter financial results.</li>
<li>TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) rose 21.7% to $16.64 following a first-quarter revenue beat and increased 2024 Briumvi US net product revenue outlook.</li>
<li>New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) climbed 20% to $3.1887 following quarterly results.</li>
<li>Bio-Techne Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>) jumped 20.1% to $75.89 following upbeat quarterly results.</li>
<li>Inari Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NARI#NASDAQ">NARI</a>) shares gained 19.1% to $44.47 after the company reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates.</li>
<li>LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) gained 18% to $8.87.</li>
<li>A10 Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATEN#NYSE">ATEN</a>) gained 17.7% to $15.38 following better-than-expected quarterly results.</li>
<li>Pinterest, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) rose 17.5% to $39.29 following strong first-quarter earnings and upbeat second-quarter guidance.</li>
<li>Root, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>) shares climbed 17.2% to $81.66 after the company reported better-than-expected first-quarter financial results.</li>
<li>LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) gained 17.2% to $8.82 following upbeat earnings.</li>
<li>UFP Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPT#NASDAQ">UFPT</a>) jumped 13.8% to $234.34 following upbeat earnings.</li>
<li>Conduent Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNDT#NASDAQ">CNDT</a>) rose 13.7% to $3.58 after the company reported better-than-expected first-quarter results and issued strong FY24 guidance.</li>
<li>Stagwell Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STGW#NASDAQ">STGW</a>) gained 13.1% to $6.73 following upbeat earnings.</li>
<li>The Chefs&#8217; Warehouse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHEF#NASDAQ">CHEF</a>) climbed 11.5% to $36.89 following strong quarterly earnings.</li>
<li>Garmin Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NASDAQ">GRMN</a>) rose 11% to $160.40 after the company reported better-than-expected first-quarter financial results and affirmed FY24 adjusted EPS and sales guidance, which is above estimates.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) rose 9.9% to $1.5699 after the company announced a collaboration with FluGen for an intranasal flu vaccine.</li>
<li>Trinity Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRN#NYSE">TRN</a>) gained 9.4% to $28.48 following upbeat earnings.</li>
<li>Plutonian Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTN#NASDAQ">PLTN</a>) gained 6.8% to $9.48.</li>
<li>Lion Group Holding Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGHL#NASDAQ">LGHL</a>) shares gained 6.5% to $0.5188 after the company reported a year-over-year increase in FY23 financial results.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares gained 6% to $18.26 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance above estimates.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Cemtrex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) shares fell 73.1% to $0.3054 after the company announced pricing of a $10 million upsized underwritten public offering.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) dipped 61.8% to $9.41.</li>
<li>CVRx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVRX#NASDAQ">CVRX</a>) fell 40.2% to $9.27 after the company reported worse-than-expected first-quarter financial results. JP Morgan analyst Robbie Marcus downgraded the stock from Overweight to Neutral and lowered the price target from $36 to $13.</li>
<li>Leggett &amp; Platt, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEG#NYSE">LEG</a>) fell 29.1% to $12.81 after the company reported worse-than-expected first-quarter financial results. The company also reduced its dividend.</li>
<li>Concord Medical Services Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) dipped 28.8% to $0.6052.</li>
<li>XTI Aerospace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XTIA#NASDAQ">XTIA</a>) fell 25.5% to $1.90</li>
<li>Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) dipped 25% to $11.16.</li>
<li>Visionary Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GV#NASDAQ">GV</a>) declined 22.3% to $0.1883.</li>
<li>Astec Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTE#NASDAQ">ASTE</a>) fell 21.1% to $32.99 following downbeat quarterly results.</li>
<li>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) dipped 19.4% to $54.55 following worse-than-expected first-quarter EPS and revenues.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares declined 15.9% to $721.99 following mixed third-quarter financial results.</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) fell 15.8% to $74.54 following weaker-than-expected second-quarter earnings.</li>
<li>Ryerson Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYI#NYSE">RYI</a>) declined 15.1% to $24.25 after posting a loss for the first quarter.</li>
<li>DigitalBridge Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBRG#NASDAQ">DBRG</a>) fell 14.4% to $14.08 after the company reported first-quarter financial results.</li>
<li>Hillenbrand, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HI#NYSE">HI</a>) dipped 14% to $41.04 after the company reported mixed second-quarter financial results and cut FY24 adjusted EPS guidance below estimates.</li>
<li>Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) shares fell 13.7% to $92.01 after the company reported second-quarter financial results and issued third-quarter revenue guidance with the midpoint below estimates.</li>
<li>Sobr Safe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) shares declined 12.2% to $0.2801.</li>
<li>SiteOne Landscape Supply, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SITE#NASDAQ">SITE</a>) fell 11.6% to $138.66 after the company reported mixed first-quarter financial results.</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) fell 11% to $16.84 following a first-quarter revenue miss and soft FY24 guidance.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell 10.5% to $13.38 after the company reported worse-than-expected first-quarter sales results and cut FY24 adjusted EPS guidance.</li>
<li>The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) fell 9.7% to $132.39 after the company reported third-quarter financial results and issued FY24 adjusted EPS guidance below estimates.</li>
<li>Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) fell 9% to $111.68 after the company reported first-quarter financial results and issued guidance.</li>
<li>Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) dipped 8.8% to $66.59. A report earlier today indicated federal prosecutors are examining the company&#8217;s financial transactions.</li>
<li>The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) fell 8.2% to $41.10 after the company reported first-quarter financial results.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) shares declined 7.9% to $1.2801. Polestar delayed annual report due to accounting errors.</li>
<li>The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) fell 6.3% to $36.19 following mixed first-quarter results.</li>
<li>The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) fell 6% to $139.09 after the company reported worse-than-expected third-quarter sales results.</li>
</ul>
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Why AMD Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

U.S. stocks were mixed, with the Dow Jones index gaining over 50 points on Wednesday.
Shares of Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) rose sharply during Wednesday's session after the company reported better-than-expected <a href="https://www.benzinga.com/quote/POWL/earnings">second-quarter financial results</a>.
Powell Industries posted GAAP earnings of $2.75 per share, beating market estimates of $1.77 per share. The company's quarterly sales came in at $255.108 million versus expectations of $201.447 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Powell Industries shares jumped 23.2% to $176.16 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Rocky Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKY#NASDAQ">RCKY</a>) shares jumped 31.6% to $33.93 after the company reported better-than-expected quarterly financial results.</li>
<li>TransMedics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) shares climbed 28% to $120.26 after the company raised its 2024 guidance.</li>
<li>Surmodics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRDX#NASDAQ">SRDX</a>) rose 27.2% to $32.69 following strong quarterly results.</li>
<li>CareDx, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) shares gained 23.4% to $9.59. CareDx is expected to report financial results for the first quarter 2024 after the closing bell on Thursday, May 9.</li>
<li>TG Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGTX#NASDAQ">TGTX</a>) rose 21.7% to $16.64 following a first-quarter revenue beat and increased 2024 Briumvi US net product revenue outlook.</li>
<li>New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) jumped 20% to $3.1887 following quarterly results.</li>
<li>Bio-Techne Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>) rose 20.1% to $75.89 following upbeat quarterly results.</li>
<li>Inari Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NARI#NASDAQ">NARI</a>) shares gained 19.1% to $44.47 after the company reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates.</li>
<li>LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) surged 18% to $8.87.</li>
<li>A10 Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATEN#NYSE">ATEN</a>) climbed 17.7% to $15.38 following better-than-expected quarterly results.</li>
<li>Pinterest, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) gained 17.5% to $39.29 following strong first-quarter earnings and upbeat second-quarter guidance.</li>
<li>Root, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROOT#NASDAQ">ROOT</a>) shares gained 17.2% to $81.66 after the company reported better-than-expected first-quarter financial results.</li>
<li>LendingClub Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LC#NYSE">LC</a>) rose 17.2% to $8.82 following upbeat earnings.</li>
<li>UFP Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPT#NASDAQ">UFPT</a>) gained 13.8% to $234.34 following upbeat earnings.</li>
<li>Stagwell Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STGW#NASDAQ">STGW</a>) rose 13.1% to $6.73 following upbeat earnings.</li>
<li>The Chefs&#8217; Warehouse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHEF#NASDAQ">CHEF</a>) gained 11.5% to $36.89 following strong quarterly earnings.</li>
<li>Garmin Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NASDAQ">GRMN</a>) climbed 11% to $160.40 after the company reported better-than-expected first-quarter financial results and affirmed FY24 adjusted EPS and sales guidance, which is above estimates.</li>
<li>Amcor plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) gained 10% to $9.84 after the company reported mixed third-quarter financial results and updated guidance.</li>
<li>Trinity Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRN#NYSE">TRN</a>) rose 9.4% to $28.48 following upbeat earnings.</li>
<li>Axos Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>) surged 9.3% to $55.31 following better-than-expected earnings.</li>
<li>Axalta Coating Systems Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXTA#NYSE">AXTA</a>) gained 9.2% to $34.32 following better-than-expected quarterly results.</li>
<li>Carpenter Technology Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) climbed 8.1% to $92.61 on strong quarterly earnings.</li>
<li>DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) rose 8.1% to $78.39 as the company reported a first-quarter fiscal 2024 sales decline of 3% year-over-year to $2.931 billion, beating the consensus of $2.813 billion.</li>
<li>Clean Harbors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLH#NYSE">CLH</a>) gained 8% to $204.59 after the company reported better-than-expected quarterly financial results.</li>
<li>DigitalOcean Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>) gained 7.7% to $35.38 after it was announced the stock will join the S&amp;P SmallCap 600.</li>
<li>LivaNova PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LIVN#NASDAQ">LIVN</a>) gained 7.4% to $59.86 after the company posted upbeat quarterly earnings and raised FY24 forecast.</li>
<li>United Therapeutics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UTHR#NASDAQ">UTHR</a>) gained 6.2% to $248.95 after the company reported better-than-expected quarterly financial results.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares rose 6% to $18.26 after the company reported better-than-expected first-quarter financial results and raised its FY24 revenue guidance above estimates.</li>
</ul>
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Few industries are as dangerous as space exploration, but it is still worth looking for <a href="https://investorplace.com/industries/industrial/space/">space stocks</a> to buy. Certainly, SpaceX has made it seem simple, even awe-inspiring again. After NASA abandoned its mission, it took Elon Musk to aim for Mars to rekindle the fire for exploring the heavens.



While current efforts seem more mundane, mostly rockets launching satellites into orbit (and a visit or two to the International Space Station), there is still the goal of exploration and, in the case of Virgin Galactic (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/spce-stock-quote/">SPCE</a>), creating a cottage industry out of space tourism. All of these could turn into lucrative opportunities. Morgan Stanley analysts believe the space economy could evolve into a <a target="_blank" href="https://www.morganstanley.com/Themes/global-space-economy">$1 trillion opportunity</a> by 2040.



Below are three companies that are capitalizing right now on the opportunity. For investors looking to the stars&nbsp;for the best <a target="_blank" href="https://investorplace.com/industries/industrial/space/">space stocks</a> to buy, you can begin your journey by having these companies on the launchpad.



<h2>Space Stocks to Buy: Rocket Lab USA (RKLB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/02/satellite-maxr-300x169.jpg" alt="(RKLB stock, space stocks) satellite over the Earth"><div>Source: Andrzej Puchta / Shutterstock.com</div></div>Rocket Lab USA (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/rklb-stock-quote/">RKLB</a>) is the <a target="_blank" href="https://investorplace.com/2024/04/100k-starter-kit-3-stocks-to-become-a-millionaire-by-2034/">second most successful space stock</a> after SpaceX, having launched 49 rockets to date. It just <a target="_blank" href="https://www.rocketlabusa.com/launch/electron/">launched its latest rocket</a> on Jun. 5 to put two &ldquo;shoebox-size cube satellites&rdquo; into orbit to measure how much heat Earth radiates into space. Rocket Labs has placed 185 satellites in orbit, while over 1,700 satellites were put into space using Rocket Labs technology.



Rocket Lab not only designs rockets but also manufactures them, designs satellite components, develops flight software, and more. Its current Electron rocket does all the heavy lifting, but the space stock will soon <a target="_blank" href="https://investorplace.com/2024/01/3-high-octane-stocks-set-for-a-major-move-higher-in-2024/">put its new Neutron rocket</a> into action, which could help realize the promise of space. It is designed for deep space exploration and human space flight, and like SpaceX&rsquo;s rockets, it is reusable. That will significantly reduce costs for Rocket Lab stock, up 23% from its April lows, but at under $5 a share, it represents a cheap way to put your portfolio in orbit.



<h2>Intuitive Machines (LUNR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/lunr1600-300x169.png" alt="Intuitive Machines logo displayed on a mobile phone, with the abstract background on a computer screen. LUNR stock"><div>Source: Below the Sky / Shutterstock.com</div></div>While Rocket Labs has accomplished more missions, Intuitive Machines (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/lunr-stock-quote/">LUNR</a>) has actually been to the moon. Its lunar lander <a target="_blank" href="https://investorplace.com/2024/03/lunr-rklb-or-spce-which-space-stock-is-best/">touched down on the moon&rsquo;s surface</a>, though it tipped over in the process. Oops! A second mission to our planet&rsquo;s neighbor is scheduled for later this year. It seeks to improve upon what Intuitive Machines has achieved. The flight is scheduled for the fourth quarter, with a third lander penciled in for 2025.



However, Intuitive Machines is also looking to <a target="_blank" href="https://mynews13.com/fl/orlando/space/2024/01/10/intuitive-machines-im-1-moon-mission">commercialize its rockets</a>. Someone has to pay the bills, so it plans a fully commercial flight after its third launch and says it has &ldquo;signed contracts with multiple payloads&rdquo; ready to go.



The space stock also vies for participation in NASA&rsquo;s Commercial Lunar Payload Services program, which delivers<a target="_blank" href="https://www.nasa.gov/commercial-lunar-payload-services/"> payloads</a> to the moon&rsquo;s surface. It is also working on NASA&rsquo;s <a target="_blank" href="https://spacenews.com/nasa-selects-three-companies-to-advance-artemis-lunar-rover-designs/">lunar rover project</a> in connection with the space agency&rsquo;s Artemis moon exploration program.



LUNR stock also trades in the sub-orbital range under $5 a share. Following the lunar mishap, Intuitive Machine&rsquo;s stock collapsed from $11. The next launch could rocket the stock into the stratosphere again, so I think it is one of the most promising space stocks to buy.



<h2>Procure Space ETF (UFO)</h2>



<div><img width="300" height="125" src="https://investorplace.com/wp-content/uploads/2021/11/astronaut-ufo-300x125.png" alt="An illustration of an astronaut in a UFO."><div>Source: Catalyst Labs / Shutterstock.com</div></div>For investors seeking broader exposure to the space race, you can always choose an exchange-traded fund (ETF) similar to Procure Space ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/ufo-stock-quote/" target="_blank">UFO</a>). While you have to love the ETF&rsquo;s ticker symbol, Procure Space gives you more than just rocket stocks. It also includes satellite stocks like EchoStar (NASDAQ:<a href="https://investorplace.com/stock-quotes/sats-stock-quote/" target="_blank">SATS</a>), its largest holding; broadband mobile network provider AST SpaceMobile (NASDAQ:<a href="https://investorplace.com/stock-quotes/asts-stock-quote/" target="_blank">ASTS</a>); and Garmin (NASDAQ:<a href="https://investorplace.com/stock-quotes/grmn-stock-quote/" target="_blank">GRMN</a>), the consumer products maker of wearables, activity trackers, and other high-tech outdoor gear, including for aviation.



Procure Space sports a reasonable 0.75% expense ratio and currently trades under $16.50 per share. That&rsquo;s down 20% from its 52-week high but 9% above its lows. It will rise and fall as its component members gain altitude or tip over on the lunar surface (Intuitive Machines, however, is not one of its holdings; Rocket Lab is).



By buying an ETF, you gain access to many more stocks than you likely could afford and do so at a lower cost. For around $16, you own three dozen space stocks, or you can pay $164 for a single share of Garmin.



On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/if-you-can-only-buy-one-space-stock-now-it-better-be-one-of-these-3-names/">If You Can Only Buy One Space Stock Now, It Better Be One of These 3 Names</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

If You Can Only Buy One Space Stock Now, It Better Be One of These 3 Names

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
When the discussion of <a href="https://investorplace.com/industries/industrial/space/">space stocks</a> comes around, their prospects always seem far away, both in distance and time. There are mineral asteroids, planets to explore and communications infrastructure to build in orbit, but it&rsquo;s a slow process. Then there&rsquo;s the issue of the highly regulated and complex business landscape of space exploration and development. This, in turn, may turn away the kinds of investors who look to short-term results and continuous progress for confidence.



However, the space race is still alive and it&rsquo;s up to corporations to win over the final frontier. As a result, private companies like SpaceX and Blue Origin have made the <a href="https://spaceimpulse.com/2024/04/30/spacex-vs-blue-origin-a-detailed-comparison-in-2024/">industry more exciting</a>. For investors looking for future fast-moving space stocks, the most important considerations are cash flow, revenue sources and research expenditures. 



As such, these three companies excel in consistently winning new contracts, maintaining critical networks and expanding new technologies. The result? Projects with the potential to generously grow a portfolio for the next century of spaceflight.



<h2>HEICO (HEI)</h2>



Through a diverse set of subsidiaries, HEICO (NYSE:<a href="https://investorplace.com/stock-quotes/hei-stock-quote/">HEI</a>) has expanded into nearly every facet of the space industry. More specifically, the company&rsquo;s <a href="https://heico.com/electronic-technology-group/">specialization in electronics engineering</a> has made it a critical supplier to several space giants. From its custom integrated circuits business to its satellite payload units, the company has endless ways to capitalize on space.



So far, this diverse product structure has yielded exceptional results for the company, as evidenced by its recent earnings report. For Q2 2024, the company reported record net sales, operating income and net income. Of particular note, its net income rose to <a href="https://www.accesswire.com/868170/heico-corporation-reports-record-net-sales-up-39-operating-income-up-33-and-net-income-up-17-for-the-second-quarter-of-fiscal-2024">$237.8 million</a>, representing a 20% increase year-over-year. Net income remains especially important to aerospace electronics companies like HEICO, as it allows them to re-invest in research and development.



Furthermore, the company&rsquo;s EBITDA increased by 35% to $252.4 million. This will enable it to better leverage debt for future acquisitions, which are the <a href="https://www.ko2.co.uk/why-are-research-and-development-important/#:~:text=In%20engineering%2C%20R%26D%20is%20used,and%20innovative%20products%20and%20services.">lifeblood </a>of its aggregate technology-centric business model. All things considered, HEI stock could continue to be one of the most lucrative space stocks on the market today.



<h2>Howmet Aerospace (HWM)</h2>



Focused solely on the mechanical engineering of the aerospace has paid off handsomely for Howmet Aerospace (NYSE:<a href="https://investorplace.com/stock-quotes/hwm-stock-quote/">HWM</a>). The company&rsquo;s mastery of metallurgy and materials science has enabled it to dominate the North American market. Specifically, it leads the pack in complex fasteners and airframe products for government and commercial programs. As a result, the company holds <a href="https://www.ko2.co.uk/why-are-research-and-development-important/#:~:text=In%20engineering%2C%20R%26D%20is%20used,and%20innovative%20products%20and%20services.">88.9%</a> of the aerospace mechanical components market share by total revenue.



This dominance recently provided the company with record Q1 revenue of <a href="https://www.howmet.com/press-release/2024-05-02/howmet-aerospace-reports-first-quarter-2024-results/">$1.82 billion</a>, representing a 14% increase year-over-year. With this revenue, the company grew its net income to $243 million, up nearly $100 million from its Q1 2023 income. Thanks to this influx of cash, the company announced a $150 million common stock repurchase plan, further signaling its stability.



Ultimately, investors looking to take advantage of the potentially high-flying future of space stocks should not ignore HWM stock. That&rsquo;s because the company&rsquo;s specialized business model and expertise have enabled it to efficiently provide investors with consistent returns.



<h2>Garmin (GRMN)</h2>



While more centered in military and commercial aviation, Garmin (NYSE:<a href="https://investorplace.com/stock-quotes/grmn-stock-quote/">GRMN</a>) has a lot to gain from a growing space industry. Specifically, the company&rsquo;s prospects come from its <a href="https://www.garmin.com/en-US/newsroom/press-release/aviation/garmin-g3000-selected-for-department-of-defense-contract-to-modernize-fleet-of-us-navy-and-marine-corps-f-5-aircraft/">new contract</a> to modernize the F-5 platform for the U.S. military. Through this modernization project, Garmin will gain exposure to the T-38 trainer platform from which the F-5 is derived. This will enable the company to develop an avionics suite directly relied on for training astronauts, which could bode well for future contract opportunities.



Furthermore, many of the company&rsquo;s products, both commercial and government benefit heavily from the expansion of satellite networks currently underway. For investors in GRMN stock, this means greater future opportunities to support growth. This dedication to growing its market relevance shined during the company&rsquo;s Q1 2024 earnings report back in May.&nbsp;



From a 20% year-over-year growth in revenue, reaching <a href="https://www8.garmin.com/aboutGarmin/invRelations/reports/2024_Q1_Earnings_Call_Webcast_Slides.pdf">$1.38 billion</a>, to a 51% jump in operating income, the company looks stronger than ever. Thus, savvy investors in space stocks should not pass up the potential Garmin represents.



On the date of publication, Viktor Zarev&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/06/3-space-stocks-that-could-be-millionaire-makers-summer-edition/">3 Space Stocks That Could Be Millionaire-Makers: Summer Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While the surging equities space following the Covid-19 disaster has worried some critics regarding a potential correction and possible recession, the framework behind futuristic <a href="https://investorplace.com/industries/technology/">tech stocks</a> presents a clear counterpoint. Yes, it&rsquo;s unusual that the economy bounced back after a catastrophic disaster. Yet the forward drive of innovation always aims skyward.



Of course, aiming high and actually achieving a lofty position are two very different concepts. Nevertheless, free-market societies generally push forward with new ideas and fresh ways of looking at old problems. In other words, the economy such as ours will likely not engage in a pity party indefinitely. And with that upward spirit, it&rsquo;s just easier to trust the tech sector.



Further, the numbers (probably) don&rsquo;t lie. With innovations like artificial intelligence likely to <a href="https://www.bloomberg.com/company/press/generative-ai-to-become-a-1-3-trillion-market-by-2032-research-finds/">add trillions of dollars&rsquo; worth of economic value</a>, investors are able to have a greater sense of confidence in the digital ecosystem. On that note, below are futuristic tech stocks to consider.



<h2>NXP Semiconductors (NXPI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/nxpi-stock-1-300x169.jpg" alt="A sign on a brick well for NXP Semiconductor. NXPI stock."><div>Source: Lukassek / Shutterstock.com</div></div>Based in the Netherlands, NXP Semiconductors (NASDAQ:<a href="https://investorplace.com/stock-quotes/nxpi-stock-quote/">NXPI</a>) designs and manufactures high-performance mixed-signal semiconductors. These products are vital for myriad industries, including the automotive and industrial sectors. As well, NXP offers solutions for applications related to the Internet of Things (IoT). As a result, it&rsquo;s one of the top futuristic tech stocks for investors seeking a long-term idea.



Over the trailing 12 months (TTM), NXP posted net income of $2.82 billion, translating to earnings per share of $10.82. During this period, revenue reached $13.28 billion. At the moment, the company&rsquo;s quarterly sales growth rate (year-over-year) is very modest at 0.2%. Still, the momentum slowdown might present an opportunity. In the past month, NXPI stock slipped about 3%.



To be fair, covering experts anticipate a rather soft performance in fiscal 2024. EPS may dip about 0.6% to land at $13.92. The top line could experience an erosion of 1.5% to reach $13.08 billion. However, a recovery could materialize in fiscal 2025, with earnings rising to $15.94 per share on revenue of $14.27 billion. Based on the importance of the business, NXPI should be on your radar of futuristic tech stocks.



<h2>Garmin (GRMN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/grmn-stock-1-300x169.jpg" alt="Garmin company logo on a storefront"><div>Source: Karolis Kavolelis / Shutterstock.com</div></div>A multinational tech giant specializing in multiple consumer-oriented products, Garmin (NYSE:<a href="https://investorplace.com/stock-quotes/grmn-stock-quote/">GRMN</a>) provides innovations that everyday people can utilize. It&rsquo;s a top player in the wearable tech space, producing smartwatches and fitness trackers. The company is also known for its GPS navigation systems and acumen. It&rsquo;s easily one of the futuristic tech stocks to add to your portfolio.



What stands out about Garmin is the consistency of its financial performance. Between the second quarter of 2023 and Q1 2024, the company&rsquo;s average EPS hit $1.50. This translated to an earnings surprise of 19.1%. During the TTM period, Garmin posted net income of $1.36 billion or $7.09 per share. Revenue hit $5.46 billion.



For fiscal 2024, experts anticipate modest expansion in the bottom line (1.6%) to hit $5.68 EPS. ON the top line, sales may rise 12% from the prior year to reach $5.86 billion. What&rsquo;s more, in the following year, EPS may climb to $6.18 on sales of $6.37 billion.



Notably, the company also offers a forward dividend yield of 1.86%. And the payout ratio isn&rsquo;t bad at all, only 41.18%.



<h2>Ambarella (AMBA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/amba-stock-300x169.jpg" alt="Ambarella (AMBA) logo on a corporate building"><div>Source: Sundry Photography / Shutterstock.com</div></div>Headquartered in Santa Clara, California, Ambarella (NASDAQ:<a href="https://investorplace.com/stock-quotes/amba-stock-quote/">AMBA</a>) is a fabless semiconductor design company. It&rsquo;s one of the compelling futuristic tech stocks to buy thanks to its development of video compression and image-processing semiconductors. Manufacturers use this equipment to bolster their wearable cameras, drones and similar integrated technologies. As a driving force in the imaging sector, AMBA deserves a closer look.



What&rsquo;s great about the business is that investors don&rsquo;t need to craft a narrative justifying exposure to the idea. While it&rsquo;s not profitable from an EPS perspective, during the past four quarters, Ambarella mitigated expected losses. The average surprise relative to analysts&rsquo; expectations came out to 25%.



During the TTM period, the tech firm incurred a net loss of $171.45 million or $4.27 per share. Revenue in the cycle hit $218.8 million. At the moment, the quarterly sales &ldquo;growth&rdquo; rate is 12.3% below breakeven. By the end of the current fiscal year, though, sales could jump 10.7% to reach $250.78 million.



Patient investors could wait till the following year, when sales are projected to soar to $315.05 million. That would be up 25.6%.



<h2>Arista Networks (ANET)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/arista_anet1600-300x169.jpg" alt="Image of Arista Networks (ANET) logo on the side of a building"><div>Source: Sundry Photography / Shutterstock.com</div></div>Another Santa Clara-based enterprise, Arista Networks (NYSE:<a href="https://investorplace.com/stock-quotes/anet-stock-quote/">ANET</a>) focuses on network computing. As it relates to futuristic tech stocks, Arista designs and sells cloud-networking solutions for data centers. With so much of data-driven protocols migrating to the cloud, Arista enjoys a massive total addressable market. Analysts rate shares a consensus <a href="https://www.tipranks.com/stocks/anet/forecast">moderate buy</a> with a high-side price target of $349.



Since the beginning of the year, ANET stock has gained almost 46% of equity value. Clearly, Wall Street has its eyes on the underlying enterprise. It&rsquo;s not at all undeserved. In the past four quarters, the company&rsquo;s average EPS hit $1.87. In that cycle, the average earnings surprise jumped to 15.58%. It&rsquo;s been beating expectations and can continue to do so.



During the TTM period, Arista posted net income of $2.29 billion or $7.19 per share. Revenue hit $6.08 billion. For fiscal 2024, analysts are looking for EPS to rise to $7.92, which represents a 14.1% lift from last year. On the top line, sales could jump to $6.71 billion, up 14.5%.



It&rsquo;s well on its way to another strong year, making ANET one of the futuristic tech stocks to buy.



<h2>Innoviz Technologies (INVZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/08/invz1600-300x169.png" alt="In this photo illustration the Innoviz Technologies (INVZ) logo is displayed on a smartphone."><div>Source: rafapress / Shutterstock.com</div></div>Hailing from Israel, Innoviz Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/invz-stock-quote/">INVZ</a>) falls under the consumer cyclical sector, specifically under the auto parts industry. Innoviz ranks among the futuristic tech stocks to consider because of its specialty in automotive-grade lidar sensors and perception software. Increasingly, automakers are pushing the boundaries of what&rsquo;s possible in mobility. Autonomy obviously ranks highly on the list.



To be sure, Innoviz is one of the riskier ideas among futuristic tech stocks. For example, it&rsquo;s not a profitable enterprise. Further, it hasn&rsquo;t exactly been impressing against expectations. During the past four quarters, the average surprise came out to 1.58% below parity. During the TTM period, net loss came out to almost $119 million. However, revenue reached $26.92 million and it&rsquo;s been rapidly accelerating.



That&rsquo;s why speculators are paying close attention to INVZ stock. For fiscal 2024, covering experts anticipate that sales may rise to $32.45 million. If so, that would imply 55.4% growth from last year. Further, fiscal 2025 could be the breakthrough, with revenue expected to land at $134.8 million.



We would be talking about a 315.4% growth rate in that case.



<h2>Coursera (COUR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/10/coursera-300x169.jpg" alt="The app page for Coursera is displayed on a smartphone screen with a website in the background."><div>Source: Postmodern Studio / Shutterstock.com</div></div>Billed as a global massive open online course provider, Coursera (NYSE:<a href="https://investorplace.com/stock-quotes/cour-stock-quote/">COUR</a>) is risky. It&rsquo;s so risky that my first instinct would be to add a colorful four-letter word in front of &ldquo;risky.&rdquo; Yes, it&rsquo;s that bad. Since the start of the year, COUR stock lost almost 66% of equity value. In the trailing month, it slipped more than 17%.



So, why bother talking about Coursera? First, on a technical note, I couldn&rsquo;t help but notice a decline in negative acceleration. In the past five weeks, COUR stock lost only 1.2%. That&rsquo;s progress. On a more important and fundamental note, a ton of learning is occurring online. It&rsquo;s not just about the professional space. People with all kinds of underappreciated talents are going to the Internet to share their knowledge.



Over time, Coursera may be in a prime position to tap into the broader e-learning sector, not just in the formal education sense but also in the more informal or vocational light. Also, I appreciate the potential here. Analysts anticipate that by year&rsquo;s end, EPS may jump from one-cent to 18 cents. Further, revenue can rise 10.1% to hit $699.76 million.



<h2>Nano-X Imaging (NNOX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/nnox1600-300x169.png" alt="Nano-X Imaging is revolutionizing healthcare with its novel digital X-ray technology. The firm is dedicated to affordable, early detection. NNOX stock"><div>Source: MacroEcon / Shutterstock.com</div></div>Another Israeli enterprise, Nano-X Imaging (NASDAQ:<a href="https://investorplace.com/stock-quotes/nnox-stock-quote/">NNOX</a>) develops digital X-ray solutions based on semiconductor technology. Primarily, Nano-X aims to make medical imaging more accessible to patients globally. The way that the company explains it, innovations such as big data are being underutilized, especially in the healthcare sector.



NNOX stock is a &ldquo;dreamer&rdquo; in many ways and thus represents a high-risk, high-reward candidate. However, one shouldn&rsquo;t dismiss the underlying entity outright. For one thing, it&rsquo;s one of the few small-capitalization plays that enjoys a <a href="https://www.tipranks.com/stocks/nnox/forecast">unanimous strong buy assessment</a>. Further, the average price target stands at $14.67, implying over 110% upside potential.



Financially, it could use some work. In the TTM period, Nano-X did lost 61.26 million. However, revenue reached just over $10 million and this is where the attention lies. For fiscal 2024, analysts believe that sales could jump 58.1% to hit $15.66 million. Further, the most optimistic view calls for $19.44 million.



In fiscal 2025, this print could jump to $52.34 million, up 234.2%. If you can handle the heat, NNOX could rank among the futuristic stocks to buy.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/7-futuristic-tech-stocks-to-tap-into-asap/">7 Futuristic Tech Stocks to Tap Into ASAP</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.


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