Tag Archives: grmn

Garmin takes on GoPro with sensor-laden action cameras

GPS device maker Garmin International (GRMN) upped its game in the action camera market vs. category leader GoPro on Monday by debuting its next generation of HD sports cameras. Garmin announced the Virb X and Virb XE action cameras, which will be available this summer for $300 and $400, respectively. The main difference between the two models is that the XE has higher-resolution video and faster frame rates. GoPro cameras are priced at $130 to $500. Compared with Garmin’s first-generation product, the new cameras are smaller, have better video quality and a new form factor, Dougherty analyst Charles Anderson said in a research note Monday. The new Virb cameras lack a preview screen, but have Bluetooth audio connectivity for wireless headsets and microphones.

Garmin Downgraded As Fitness Watch Threat Rises

Citigroup downgraded Garmin to sell on worries the GPS device maker faces increasing competition from fitness watches, though the investment bank calls Apple (AAPL) “a very modest threat this year.” Garmin (GRMN) stock was flat in midday trading in the stock market today, near 46.50. Citigroup analyst Jeremy David reduced his price point on Garmin stock to 42 from 68. “While we continue to see upside to Garmin’s Fitness revenue in 2015, we believe

GoPro stock digs a 6-month low on bearish comments

GoPro (GPRO) stock fell to a six-month low on Friday after negative comments by Oppenheimer analyst Andrew Uerkwitz. Uerkwitz, who rates  GoPro (GPRO) as underperform, reiterated his bearish stance on the action camera maker during an appearance late Thursday on CNBC. Uerkwitz said investor enthusiasm over GoPro’s media strategy is unwarranted. GoPro’s efforts to build an audience on YouTube for videos shot with its cameras are peripheral to its core hardware business, he said. “Anybody that’s trying to value GoPro on a media strategy doesn’t fully understand the story and should really look at this as a hardware play,” he said. While GoPro has successfully fended off competition from the likes of Garmin (GRMN), Panasonic, Sony (SNE) and others, that could prove more difficult going forward.