|Bid||0.00 x 42300|
|Ask||0.00 x 39400|
|Day's Range||4.7001 - 4.9800|
|52 Week Range||4.2300 - 7.7900|
|Beta (3Y Monthly)||1.50|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Fitbit Has Continued to Struggle in 2018: What's Next? Of the 15 analysts covering Fitbit (FIT), three recommend a “buy,” ten recommend a “hold,” and only two recommend a “sell.” Their average target price is $6.63, and their median price is $6.6. Fitbit was trading at $5.00 on December 12, a 32% discount to analysts’ median target.
Fitbit (FIT) posted non-GAAP (generally accepted accounting principles) EPS of $0.04 in the third quarter of 2018. This was Fitbit’s first profitable quarter in over two years. Though Fitbit’s gross margin declined 510 basis points to 40.1% in the third quarter, this was offset by a 17% decline in operating expenses.
Fitbit Has Continued to Struggle in 2018: What's Next? Fitbit (FIT) seems to be focusing more on the smartwatch segment with the launch of the Versa and Fitbit Ace for kids. According to market research firm Gartner, the wearable device is set to grow by 26% this year driven by smartwatch sales.
According to market research firm IDC, Fitbit (FIT) occupied the third position in the global wearable market. Fitbit reportedly shipped 3.5 million units in the third quarter, a fall of 3.1% compared to shipments of 3.6 million units in the same period last year. Fitbit’s shipments fell YoY in a market that is experiencing robust growth. The global wearable market rose 21.7% YoY to 32 million units in the third quarter of 2018.
Fitbit Has Continued to Struggle in 2018: What's Next? Fitbit stock (FIT) gained 26% on November 1 to close at $5.95. While this rally began before Fitbit announced its third-quarter results, it gained momentum once the company surpassed earnings estimates.
Fitbit stock (FIT) has had a rough 2018. In fact, the stock has generated negative returns ever since it was listed in June 2015. The stock declined from $36.46 on June 22, 2015, to $29.61 by the end of 2015, a fall of 19%. The stock fell 73% in 2016 to $7.96 and slumped 24.5% in 2017 to $6.01.
The Fort Collins company, best known for its tough smartphone cases, wants to make that wearable on your wrist indestructible.
When Fitbit (NYSE:FIT) reported its third-quarter earnings in late October, the shares got a nice boost, jumping by close to 26% to $6.10. The company reported adjusted earnings per share of 4 cents, while the Street was looking for a loss of 1 cent a share. Unfortunately, the FIT stock price gains proved fleeting.
According to a letter published by shareholders rights law firm Robbins Arroyo LLP, a complaint has been filed against Fitbit (FIT) for misleading investors. Fitbit claimed that it had the best-selling fitness tracker on Amazon (AMZN). The letter said, “Fitbit was struggling to differentiate itself from Apple Inc., leading to slowing demand for Fitbit’s products.
The wearables sector (WEAR) is seeing a resurgence. After growing over 5% YoY (year-over-year) in the second quarter of 2018, it saw robust growth in the third quarter.
Year-over-year revenue growth stalled for Fitbit, Inc. (NYSE: FIT) in the third quarter, which is not a bad thing for Fitbit stock or the company. Fitbit has a number of important comparative advantages that could help boost FIT stock going forward.
Apple (AAPL) ventured into selling wearable devices such as smartwatches to diversify its hardware business beyond the mature markets for smartphones and personal computers. Xiaomi shipped 6.9 million wearables, representing a 21.5% share of the global market. Some 32 million wearable devices were shipped globally in the third quarter, showing that the wearables market had expanded 21.7% YoY in the period.
Strong healthcare initiatives of Microsoft, Google, Apple and Fitbit are big threat to Amazon's aggressive healthcare push.
With that as the backdrop, here are the eight major companies most likely to pull a vanishing act in 2019. Between cheaper options online and the move from venues like Bed Bath & Beyond Inc. (NASDAQ:BBBY) and home improvement retailers like Home Depot Inc (NYSE:HD) to get deeper into the organizational market, The Container Stores simply became less of a draw.
According to the IDC, global shipments of wearable devices in the third quarter rose 21.7% year-over-year to 32 million units. The wearable market growth was driven by the launch of new products from Garmin (GRMN), Fitbit (FIT), and China’s (FXI) Huawei. The demand from emerging markets in the Asia-Pacific region rose over 21%.
Xiaomi Corp. took the top position in research firm IDC's report on market share in the wearables industry for the third quarter, beating out Apple Inc. and Fitbit Inc. . Xiaomi benefited from the Mi Band 3's popularity as well as success outside of China. The company shipped 6.9 million devices in the quarter, according to IDC's research. IDC estimates that Apple shipped 4.2 million devices and Fitbit shipped 3.5 million. Apple's Series 4 Watch launched at the very end of the third quarter, so most of its shipments during the period were of older models. Fitbit slowed its decline, according to IDC, thanks to the Versa smartwatch, Charge 3 tracker, and Ace kids' wristband. "In particular, the success of the Versa has allowed the company to once again become the second largest smartwatch vendor and IDC expects this to continue in the near term," the firm wrote.
One of the hottest high-tech gift categories this year is smartwatches, while fitness trackers remain popular for those who want to keep track of their activity — but not necessarily wear a mini computer on their wrist. Apple (NASDAQ:AAPL) continues to dominate the smartwatch category, while Fitbit (NYSE:FIT) remains king of the hill for fitness trackers (at least in North America). What is the best smartwatch you can buy today.
Apple’s (AAPL) Services segment is its second-largest business after its iPhone business. The Services segment accounted for ~16% of the company’s total sales in the fourth quarter of fiscal 2018, which ended in September.