Garmin (NASDAQ:) subsidiary Garmin International recently unveiled a GPS golf device — Approach G80 — to help golfers improve their game.
The company has integrated its GPS technology with launch monitor capabilities to aid players in calculating their swing metrics and compete in virtual tournaments. The in-built radar capability helps players to review their performance by tracking ball speed, club head speed, smash factor and swing temp among others.
Players get to play and analyze their skills virtually on more than 41,000 pre-loaded courses from around the world.
Dan Bartel, Garmin’s vice president of global consumer sales said, “With the Approach G80, golfers are finally able to take advantage of a golf GPS that integrates launch monitor capabilities to capture the necessary metrics to help elevate their game to the next level.”
Product Details
Approach G80 boasts a sunlight readable touchscreen display and a rechargeable battery that lasts for 15 hours. The device is equipped with a variety of features and new challenges, aimed at enticing gamers.
The new device features Touch Targeting, which yields precise information of the yard. Further, Green View can be used by players to move the flag and adjust the pin location per their convenience to enhance accuracy. Additionally, PlaysLike Distance feature benefits golfers by adjusting the yard to hit a specific target.
Notably, all the new features are available on the Garmin Golfapp. To boost user engagement level, players get to virtually connect with other golfers, receive points for hitting targets, review their statistics and compete in weekly tournaments among others.
With all these features, the new device is expected to prove beneficial for golfers.
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Garmin Ltd. Price and Consensus
Garmin Ltd. Price and Consensus | Garmin Ltd. Quote
Expanding Outdoor Business: A Key Catalyst
Garmin is firing on all cylinders in a bid to bolster its outdoor segment on the back of new products and upgrades to the existing ones, which is enabling the company to enhance users’ outdoor experiences.
The company’s two most profitable segments are Aviation and Outdoor. Notably, Outdoor segment revenues increased 13.2% year over year in the third quarter, driven by robust demand for wearables. Also, gross and operating margins for outdoor units were 65% and 35%, respectively.
Garmin has been making significant investments in this segment. In October 2018, the company introduced a new GPS watch, Instinct. The device features health sensors, particularly benefiting outdoor adventurers and athletes.
The company also announced the launch of GPSMAP 66s and the GPSMAP 66st.These updated premium handhelds will aid outdoor navigation, trip planning, mapping and data sharing.
Garmin’s initiatives to expand its portfolio and enhance existing product lines are encouraging and are expected to drive the top line in the near term.
Zacks Rank & Stocks to Consider
Currently, Garmin carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader computer and technology sector include SYNNEX Corporation (NYSE:) , Twitter, Inc. (NYSE:) and Cloudera, Inc. (NYSE:) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Expected long-term earnings growth rate for SYNNEX, Twitter and Cloudera is 0.7%, 22.1% and 8%, respectively.
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