FIT - Fitbit, Inc.

NYSE - Nasdaq Real Time Price. Currency in USD
4.1300
+0.4600 (+12.53%)
As of 2:38PM EDT. Market open.
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Previous Close3.6700
Open3.6600
Bid4.0000 x 1800
Ask4.0100 x 4000
Day's Range3.6400 - 4.1401
52 Week Range2.8100 - 6.9600
Volume13,226,876
Avg. Volume5,087,906
Market Cap1.039B
Beta (3Y Monthly)0.75
PE Ratio (TTM)N/A
EPS (TTM)-0.5360
Earnings DateOct 29, 2019 - Nov 4, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est4.99
Trade prices are not sourced from all markets
  • Exclusive: Fitbit considers whether it should explore a sale - sources
    Reuters

    Exclusive: Fitbit considers whether it should explore a sale - sources

    Fitbit has held discussions with investment bank Qatalyst Partners about whether it should engage with potential acquirers, the sources said. Fitbit has not yet decided whether it will pursue a sale and there is no certainty it will do so, the sources said. Qatalyst has been seeking to persuade Fitbit to explore its options for several weeks, arguing it could attract acquisition interest from Google owner Alphabet Inc as well as private equity firms, one of the sources added.

  • Apple Roundup: Products, Security Issues, Analyst Opinion & Trillion-Dollar Valuation
    Zacks

    Apple Roundup: Products, Security Issues, Analyst Opinion & Trillion-Dollar Valuation

    Apple's new products, Goldman's reservations about the stock, iPhone security issues and its trillion-dollar valuation are the highlights of this roundup.

  • Apple's Watch 5 Headway in Healthcare Makes Others Take Note
    Zacks

    Apple's Watch 5 Headway in Healthcare Makes Others Take Note

    Healthcare battle is heating up with the growing proliferation of fitness trackers being offered by Apple (AAPL), Fitbit, Garmin and others.

  • Is 33% Upside Good Enough to Risk Buying Fitbit Stock? Deutsche Bank Doesn’t Think So
    TipRanks

    Is 33% Upside Good Enough to Risk Buying Fitbit Stock? Deutsche Bank Doesn’t Think So

    While consumers generally love Fitbit (FIT) products, this hasn’t necessarily converted to sales. And this is making investors nervous. One of the biggest challenge (and opportunity) the company is facing is marketing its watches as medical devices. While many people use these watches to track health-related activity, they cannot be prescribed widespread by doctors until the company gets federal approval on at least a few features. This puts them in contrast with the Apple Watch, which has FDA clearance on select features, making it more medical device than any Fitbit product. And while the market is small, with only a handful of players, some believe Apple’s dominance will reign and ultimately wipe FIT out. Deutsche Bank analyst Jeffrey Rand is not as dire as some, but he remains sidelined on Fitbit stock with a Hold rating and $5 price target, which implies about 33% upside from current levels. While Fitbit hasn’t taken off as a medical device in the US, Rand points to Singapore for optimism. According to the company, Rand says, the recent deal with the Singapore Health Promotion Board is "a validation point that wearable devices can have a positive impact on the health of a large population,” and will pave the way to “opportunities with other governments/insurance companies to provide devices for a large population of people.” Should the company be able to reach a large population of people like it hopes, Rand believes it has at least one advantage over Apple — it’s ability to work across Android. He says this “remains a key competitive advantage for the company,” as large partnerships with governments or insurance providers means a massive user base — and one that may not always be Apple users.Rand takes a step back and evaluates Fitbit's recent jump into subscription software, Fitbit Premium. He says the company “sees many opportunities in its subscription business, including a more stable recurring revenue stream and the opportunity” to bundle the software with the hardware, helping push customers to buy the hardware. When ramped up, Premium could be a major revenue generator for the company. However, the analyst believes the subscription business will take some time to ramp and till then he remains on the sidelines.All in all, Wall Street believes Rand is smart to play it safe when it comes to the wearable device maker's prospects ahead, as TipRanks analytics reveal FIT as a Hold. Out of 7 analysts polled in the last 3 months, 3 are bullish on Fitbit stock, 2 remain sidelined, and 2 are bearish on the stock. With an upside potential of 33%, the stock’s consensus target price stands at $4.99.

  • Watch 5 to Position Apple as Undisputed Market Leader?
    Market Realist

    Watch 5 to Position Apple as Undisputed Market Leader?

    Apple (AAPL) announced an upgrade to its Watch series with the Apple Watch 5. Here's why Apple should keep leaning into the health ecosystem to stay on top.

  • 8 Announcements From the Apple Event — Including the New iPhone 11
    InvestorPlace

    8 Announcements From the Apple Event — Including the New iPhone 11

    The success of Apple (NASDAQ:AAPL) over the past decade has been largely driven by the iPhone. Sales of the smartphone propelled Apple stock to huge gains, but those sales have been sputtering lately. So investors were eagerly anticipating the September 10 Apple event, where the company was expected to take the wraps off its answer to those struggling iPhone sales. * Take Buffett's Advice: 5 Vanguard Funds to Buy The company didn't disappoint, unveiling a trio of new iPhones -- including the iPhone 11 -- along with other new hardware. Apple also announced pricing and launch dates for its new services -- which are now more critical than ever. Here's everything you need to know about yesterday's Apple event.InvestorPlace - Stock Market News, Stock Advice & Trading Tips iPhone 11 ProSource: Apple As expected, the new iPhone 11 Pro took center stage. The new flagship iPhone is priced the same as last year's iPhone XS, but has some big improvements.The iPhone 11 Pro gets a new Super Retina XDR display (a 5.8-inch OLED panel that's brighter and more energy efficient), and the powerful new A13 Bionic processor. It gains a whopping four hours of battery life compared to the iPhone XS, and comes with a faster 18W recharger in the box. But the big upgrade this year was the camera, which moves to a triple camera system, with a 12MP ultra-wide lens added to the 12MP telephone lens and 12MP wide angle lens. The cameras also get a Night mode to take on the low light performance of the Pixel smartphone from Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) Google. The front-facing selfie cam can now take 4K video.Apple also added a new Midnight Green color option.The iPhone 11 Pro starts at $999 for 64GB of storage, with pre-orders starting on September 13. iPhone 11 Pro MaxSource: Apple Apple continued its pattern of releasing a super-sized version of its flagship with the iPhone 11 Pro Max. The Pro Max matches the iPhone 11 Pro's specs, but with a 6.5-inch Super Retina XDR display and a five-hour gain in battery life. * 10 Stocks to Sell in Market-Cursed September The iPhone 11 Pro Max starts at $1099 for 64GB of storage, with pre-orders starting on September 13. iPhone 11: Apple Event's Big NewsSource: Apple Arguably the biggest announcement at this Apple event was the iPhone 11. The replacement to last year's iPhone XR is significantly better than the model it replaces -- and $50 cheaper. When was the last time Apple, lowered the price of a new product?The iPhone 11 has the same 6.1-inch LCD display, and comes in a range of colors (including new options green and purple). It gets the same A13 Bionic processor as the Pro models, helping it to gain an extra hour of battery life. Water resistance has improved from IP67 to IP68. But the big news is a switch to a dual camera system, with wide angle and ultra-wide angle. Basically, what was offered with last year's flagship iPhone XS, but instead of telephoto for the second camera the iPhone 11 gets the new ultra-wide option. The cameras both shoot 4K video and get the new Dark mode, with the front camera also getting an upgrade to 12MP and 4K capability.The iPhone 11 starts at $699 for 64GB of storage, with pre-orders starting on September 13.In addition to the new iPhones, Apple lowered the price of the iPhone XR to $599 while the iPhone 8 will be available from $449. Apple Watch Series 5 Source: Apple The Apple Watch has turned into a success story for AAPL, and the Apple Watch Series 5 was announced yesterday.The newest Apple Watch looks much the same as last year's Series 4, but the big new feature is an always-on Retina display. Despite never shutting off completely (it does dim when in the down position), the Apple Watch Series 5 still maintains the 18-hour battery life of last year's model. The Series 5 also gets international emergency calling. Apple introduced new case options including Titanium and Recycled Aluminum, along with Ceramic. The Series 4 has been discontinued, but to offer a low-cost alternative that can better compete against Fitbit (NASDAQ:FIT) on price, the Apple Watch Series 3 price has been lowered to $199. * 10 Healthcare Stocks to Buy Despite the Headlines Apple Watch Series 5 starts at $399 ($499 for cellular) and is available now for pre-order. New iPad 10.2-inchSource: Apple Apple is trying to keep its recent iPad sales momentum going and introduced a new entry level iPad to replace the 9.7-inch iPad released last spring.This seventh generation iPad keeps the same price at $329 ($299 for education customers), but the Retina display is boosted from 9.7-inches to 10.2-inches. It still uses a Lightning port -- unlike the iPad Pro that switched to USB-C -- but gains a Smart Connector that makes it compatible with Apple's full-sized Smart Keyboard. It also supports the first generation Apple Pencil.The new iPad is available for pre-order now, starting at $329 for 32GB of storage. Apple TV+Source: Apple Apple announced its Apple TV+ streaming video service launches on November 1, and surprised with the news that a family subscription will be priced at $4.99 per month, with a free 7-day trial. That undercuts rival streaming services like Disney's (NYSE:DIS) $6.99 Disney+, although Apple TV+ will have considerably less content at launch. * 7 Best Stocks That Crushed It This Earnings Season Sweetening the deal -- and leveraging its Apple ecosystem advantage to boost adoption -- the company will be offering one year of free AppleTV+ to anyone who buys a new iPhone, iPad or Apple TV. Apple ArcadeSource: Apple AAPL also confirmed the details on its Apple Arcade gaming subscription at yesterday's Apple event. After spending $500 million to bring 100 exclusive titles to the service, Apple Arcade will be priced at $4.99 per month. That's about half of what we were expecting Apple to charge.Apple Arcade games are playable on the iPhone, iPad, iPod Touch, Mac and Apple TV, with support for third party controllers. Apple Arcade will be available on the App Store, starting September 19. iOS 13 and Other OS UpdatesSource: Apple Along with the new hardware and services, the Apple event also saw demonstrations of the new operating systems coming to Apple devices.The most important of these is iOS13 -- which powers the iPhone -- and it has a number of features that should keep those iPhone users happy. Apple Maps is getting a big refresh including real-time public transit estimates and a street view. Siri gets a new, more natural sounding voice. And with iOS13, iPhone owners also get an optional Dark mode. * Take Buffett's Advice: 5 Vanguard Funds to Buy Look for iOS 13, tvOS 13 and watchOS 6 on September 19, with iPadOS 13 on September 30 and macOS Catalina in October. What Does This Apple Event Mean for Apple Stock?Investors and analysts were watching yesterday's Apple event carefully. Even with a year of sliding sales, the iPhone accounted for 48% of APPL revenue in the last quarter. So the next generation of Apple's smartphone is critical. The iPhone 11 Pro series seems well positioned to appeal to premium smartphone buyers, despite lacking 5G support. And the iPhone 11 -- with dual cameras and a price cut compared to last year's iPhone XR -- could be a big seller. In fact, the move to offering lower-prices across much of its hardware line was a big move for Apple. Consumers can pick up previous generation models of the iPhone and Apple Watch for much lower prices than previously, making AAPL more competitive. The same holds true for Apple Arcade and Apple TV+ with both services undercutting competing subscription services.Apple stock got a 1.18% bump after the Apple event, so investors were happy with what they saw, at least at first glance. Now it's up to the company to get people into Apple Stores and buying…As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.The post 8 Announcements From the Apple Event -- Including the New iPhone 11 appeared first on InvestorPlace.

  • Apple’s Biggest Surprise: More Aggressive Device and Services Pricing
    Bloomberg

    Apple’s Biggest Surprise: More Aggressive Device and Services Pricing

    (Bloomberg) -- Apple Inc.’s biggest surprise at its keynote address on Tuesday was not a new feature, device, or service, but an aggressive pricing strategy that’s a departure for the premium electronics maker.The iPhone 11 starts at $699, down from the iPhone XR’s $749 price last year. The XR stays in the lineup for $599, a $150 decrease for a phone that’s only a year old. That’s one of the biggest year-over-year reductions in iPhone history.“The biggest news from the Apple launch was the price cut for iPhone 11,” Chris Caso, an analyst at Raymond James & Associates, wrote in a note to investors. “We view this as an admission that Apple stretched too far with the price points at last year’s launch.”The iPhone 8 from 2017 now costs $449, also down $150, while the Apple Watch Series 3 from the same year saw its price drop to $199 from $279. That should help Apple better compete with Fitbit Inc.Apple became one of the world’s most valuable companies by designing innovative consumer hardware and charging a lot for the gadgets. However, it has struggled to maintain once-frenzied demand for the iPhone. Most Western and Chinese consumers already own a smartphone and are reluctant to upgrade due to a lack of breakthrough features and cheaper alternatives. Researcher IDC expects industry shipments to slip 2.2% in 2019, the third year of declines. It sees iPhone shipments down 15% this year.Lowering prices may encourage more people to upgrade iPhones sooner, while luring new users for a growing digital subscriptions business. Apple shares rose 1.2% to $216.70 in New York on Tuesday, the highest close since early November.“Many of the users who purchase lower priced devices will eventually become customers of Apple services,” said Jitesh Ubrani, a research manager at IDC. “They’ve shown they can do this in the past with hardware: If you bought an iPhone you were likely to buy an iPad or AirPods.”It will likely be harder for Apple to make this type of connection between its devices and new services. That’s partly because there are so many existing digital service providers and their offerings already work well on iPhones and other Apple devices, Ubrani said.Apple is tackling this challenge with aggressive pricing, too. The Apple Arcade gaming service is $4.99 a month, roughly half the cost of Apple Music and Apple News+.The $4.99 monthly cost of Apple’s upcoming TV+ video streaming service surprised many analysts and undercuts Netflix Inc., Amazon.com Inc.’s Prime Video, and the Disney+ offering. And when people buy an iPhone and iPad, a Mac or an Apple TV, they get a free year of TV+, Chief Executive Officer Tim Cook said.Dan Ives, an analyst at Wedbush Securities, called the TV+ price a “show stopper” and said the move should help Apple gain more subscribers.“With an installed base of 900 million active iPhones worldwide we believe Cook & Co. have an opportunity to gain 100 million consumers on the streaming front in the next 3-4 years,” Ives wrote in a note to investors.\--With assistance from Ian King.To contact the reporter on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Apple unveils Apple Watch Series 5 with always-on display for $399
    Yahoo Finance

    Apple unveils Apple Watch Series 5 with always-on display for $399

    Apple unveils new Apple Watch Series 5 with always-on display.

  • Bloomberg

    Apple’s Latest Watch Adds Always-On Screen, New Titanium Cases

    (Bloomberg) -- Apple Inc. showed off updated Apple Watch models that come in new ceramic and titanium cases and a new always-on screen.The devices were announced by Apple Watch marketing head Stan Ng during an event at Apple’s Cupertino, California headquarters. The Watch changes are more muted than last year, when Apple added redesigned cases, larger screens, faster processors, and an EKG sensor with the Series 4 line.The new models, called the Series 5, will start at $399, in line with the entry price of the previous model. The always-on screen includes new underlying technology for lower power consumption. The Watch has the same 18 hour battery life, Apple said. The new Watch also will add a compass sensor for improved directions in maps and a new compass app. Cellular models will also have built-in global emergency service calling.Apple dropped the price of its Series 3 from 2017 to $199. That may increase competition with Fitbit Inc., which sells cheaper smartwatches and other health-tracking devices.Apple also announced new studies on the Apple Watch for hearing health, women’s cycle tracking, and the connection between heart health and movement. It also announced a new health study research app, coming to the U.S. later this year.To contact the reporter on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair Barr, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Fitbit’s $199 Versa 2 offers a functional smartwatch in an inexpensive package
    Yahoo Finance

    Fitbit’s $199 Versa 2 offers a functional smartwatch in an inexpensive package

    Fitbit is rolling out a new subscription health and fitness tracking service later this fall called Fitbit Premium. But to take advantage of the service, you’ll need a Fitbit device — which is where the new Versa 2 comes in.

  • Fitbit Versa 2 review
    TechCrunch

    Fitbit Versa 2 review

    The Versa didn’t single-handedly save Fitbit, but it gave the struggling wearable company a way forward. It also proved that Fitbit was finally ready to offer a product that could compete with the utterly dominant Apple Watch. Last year’s Versa Lite was, by all accounts, a misstep.

  • TheStreet.com

    CVS Poaches Fitbit Exec to Lead Consumer Health Efforts: Report

    Fitbit is losing the head of its healthcare business to CVS as the pharmacy giant works to transform itself following the $70-billion acquisition of insurance company Aetna. Adam Pellegrini will lead consumer health efforts at CVS, CNBC reported on Friday. It cited a CVS internal memo saying Pellegrini will join CVS on Monday as senior vice president of transformation consumer health products.

  • Fitbit, Inc. (NYSE:FIT): What Does Its Beta Value Mean For Your Portfolio?
    Simply Wall St.

    Fitbit, Inc. (NYSE:FIT): What Does Its Beta Value Mean For Your Portfolio?

    Anyone researching Fitbit, Inc. (NYSE:FIT) might want to consider the historical volatility of the share price. Modern...

  • Motley Fool

    Where Are Wearables and Smart Speakers in 2019?

    The demand picture’s shifted in the last few years, and some unexpected players are rising to the top.

  • 3 Tech Stocks Rallying on New Product Announcements
    TipRanks

    3 Tech Stocks Rallying on New Product Announcements

    All it takes is one positive catalyst to send shares soaring. Whether it’s a solid earnings performance, a comment from management or a recent acquisition, these events can have a drastic effect on share prices. For example, International Business Machines' (IBM) shares are up 3% in the last three days after it unveiled its digital solution GRIT to help veterans transition out of active duty. For a few other tech stocks, the recent announcement of new products is also generating a positive buzz among investors. Product updates from Fitbit (FIT), Microsoft (MSFT) and Dell Technologies Inc. (DELL) have led to a surge in share prices, with many analysts saying these companies have taken meaningful steps in the right direction.Let’s take a closer look at these 3 tech stocks rallying on new product announcements. Fitbit Inc. (FIT)The wearable fitness device company has seen share prices gain 8% in the last three days after it announced an upgraded smart watch and a plan for a premium subscription service on August 28. Fitbit has joined forces with eCommerce giant Amazon (AMZN) to add Alexa voice capabilities to its new and improved Versa 2 smart watch. The revamped watch will be available on September 15 with a $199.95 price tag.The new watch will also include a brighter display, faster processing, the Spotify music app as well as payment capabilities. “While Versa Lite received good press and consumer reviews, we saw that consumers were willing to pay more for a smartwatch with additional features or look for discounting versus everyday value,” CEO James Park stated.As part of its efforts to diversify its product offerings, FIT is launching a premium subscription service that offers coaching, sleep tracking, health reports and workouts. The service will be released sometime in the fall for $10 per month or $80 per year.Roth Capital analyst Scott Searle tells investors that these additions to its product pipeline are “steps in the right direction”, with the service and Versa 2 being largely neglected from the current valuation. “We estimate the service will attract 14 million users paying an average of $14-16 a month. Based on our calculations, a 1% penetration of the active user base would add $0.05-0.08 to the EPS,” he explained. As a result, the two-star analyst reiterated his Buy rating and $8 price target on August 28. Searle thinks share prices could increase 159% over the next twelve months. In general, the Street takes a less bullish stance on FIT. It has a ‘Hold’ analyst consensus and a $5 average price target, suggesting 61% upside potential. Microsoft Corporation (MSFT) The tech giant announced on August 27 that it would be holding a special Surface hardware event in New York City. The news of the October 2 event sent share prices up about 2% in just the last three days. The announcement has led to speculation among investors as to whether or not the company’s dual-screen device, Centaurus, will be unveiled. MSFT, which has been building the device for two years, teased the innovative product at an internal meeting back in June, demonstrating that the product is nearing release. It should be noted that it’s not one hundred percent certain that the launch will happen in October.That being said, it’s widely expected that several other Surface products will get a refresh including a revamped Surface Pro that includes a USB-C port as well as the Surface Book and Surface Go Tablet.Not to mention MSFT announced on August 29 that it's testing a new interface for Windows 10 specifically designed for 2-in-1 laptop convertibles, with it able to automatically activate when the laptop convertible switches into a tablet posture. Its commitment to not only improving its current products but also to developing new and innovative technologies lends itself to Wedbush analyst Daniel Ives’ conclusion that MSFT shares will only continue to rise. On August 29, the four-star analyst reiterated his Buy rating and $160 price target, implying 16% upside potential. All in all, other Wall Street analysts echo Ives’ sentiment. MSFT boasts a ‘Strong Buy’ analyst consensus as well as a $154 average price target, indicating 11% upside. Dell Technologies Inc. (DELL)Since its December 2018 IPO, Dell has demonstrated that it’s a force to be reckoned with as the stock is up 5% year-to-date. The computer company isn’t stopping there with shares already surging more than 12% in the last five days.The jump comes after a strong August 29 Q2 earnings release and Dell’s announcement that it is teaming up with Google (GOOGL) to launch Chromebook Enterprise laptops on August 26. These devices will include a variety of Dell’s cloud-based support services that allow admins to have greater control over how these Chromebooks are rolled out inside businesses to meet IT needs. Enterprises can pick Dell’s 14-inch Latitude 5400 for $699 or the 13-inch Latitude 5300 2-in-1 for $819 which became available on August 27. Both can be configured with Intel’s 8th Gen Core i7 processors, up to 32GB of RAM and with to 1TB of SSD storage. The collaboration between these two tech giants comes as part of a larger effort to gain market share from Microsoft which has dominated the space.Not to mention Dell announced on August 26 that its new VMware (VMW) integration will support cloud-native applications so organizations can deploy, run and manage Kubernetes (an open-source system for automated deployment of containerized applications) for critical production workloads alongside traditional applications.Based on all of the above factors, Raymond James analyst Simon Leopold maintains that Dell is “a nice house in a tough neighborhood”, referring to the global slowdown for the PC market. As a result, he reiterated his Buy rating and raised the price target from $61 to $62, on August 30. The 4.5-star analyst believes shares could gain 20% over the next twelve months. With 6 Buy ratings vs 4 Holds received in the last three months, DELL has a ‘Moderate Buy’ analyst consensus. Its $62 average price target implies 20% upside potential. Find analysts’ favorite stocks with the Top Analysts’ Stocks tool

  • Will Fitbit’s (FIT) Pivot to Services Reignite Its Growth Story?
    TipRanks

    Will Fitbit’s (FIT) Pivot to Services Reignite Its Growth Story?

    With its stock down about 90% since its 2015 IPO, fitness hardware-maker Fitbit (FIT) knew something had to change. They're betting services is the answer. The company is launching Fitbit Premium, which will be a subscription service that offers users more information on their health, including fitness and sleep. The service will cost $9.99 per month or $79.99 per year, and will include a library of over 1,000 workouts, as well as insights gathered through users’ Fitbit device. Fitbit is targeting the recurring revenue, as well as stronger profit that comes from software. Deutsche Bank analyst Jeffrey Rand is “encouraged” by Fitbit’s new service as it “appears to be a robust offering, including a strong focus on analyzing and improving sleep quality.” The analyst maintains a Hold rating and $5 price target on the stock, which implies about 60% upside from current levels. The company has a large user base of 27 million people, which will be tapped as a source of recurring, high-margin revenue. But while the move itself is smart, Rand reminds investors that “ramping up a subscription business...is typically a long process,” and does not expect much change in the near future. The analyst estimates Fitbit needs to convert as much as 10% of users to its new service. By doing so, Rand believes subscription revenue could creep up to 10% of total revenue, which is “achievable, and could even move to a higher percentage of overall revenue.” But until then, the analyst assumes the rollout will be “a slow process.”The subscription model and service-based offerings should serve Fitbit well in the long-term. As with many of its peers, Fitbit performs best in the holiday season, so a source of recurring revenue will provide more clarity for both management and investors. Furthermore, the shift to services will allow Fitbit worry less about upgrade cycles, which is a growing challenge for hardware makers. As hardware lasts longer, customers delay upgrading to new products, playing a part in lower or weakened revenue. All in all, the word on the Street rings largely bullish on this wearable device maker, with TipRanks analytics demonstrating FIT as a Buy. Out of seven analysts polled in the last three months, four are bullish on FIT stock, while one remains sidelined, and two are bearish. With a return potential of over 60%, the stock's consensus target price stands at $4.99. (See FIT's price targets and analyst ratings on TipRanks)

  • Thomson Reuters StreetEvents

    Edited Transcript of FIT earnings conference call or presentation 31-Jul-19 9:00pm GMT

    Q2 2019 Fitbit Inc Earnings Call

  • Garmin’s Edge in the Wearables Fight With Apple? Fighter Jets
    Bloomberg

    Garmin’s Edge in the Wearables Fight With Apple? Fighter Jets

    (Bloomberg) -- If you want to stay ahead of Apple Inc. and its wearable accessories, you’ve got to sell to everyone from anglers to military pilots.That’s the message from the chief executive officer of GPS and fitness accessory maker Garmin Ltd., whose shares have soared more than 25% since January, while rival Fitbit Inc.’s shares have tumbled to record depths.“The products that win are those that can differentiate themselves from the masses,” Clifton A. Pemble said in an interview. Garmin’s wearables, which range from around $70 to as much as $1,500 in price, are geared to helping athletes monitor activity and health.Schaffhausen, Switzerland-based Garmin has been selling wearable activity trackers since 2003, and they’ve never needed to be paired with a specific model of phone to function. Watches like the Garmin Forerunner help an athlete determine if they’re overtraining or undertraining, monitor running gait and sleep patterns at night, as well as play music and display messages.Products like the Apple Watch, on the other hand, were originally marketed as mass-market luxury accessories that exclusively require an iPhone to be useful.This is changing, however. While fitness features were always an important aspect of the Apple Watch, the company’s become more bullish about its wearable as a standalone health tool. The latest model can already perform mobile electrocardiography and detect potential heart conditions, and in June Apple said it would soon get its own app store and that many more apps would work without an iPhone nearby.But despite this growing competition, Garmin boosted its full-year guidance in July, saying it now expects around $3.6 billion in revenue, up from $3.5 billion in February, and its fitness and outdoor units are still expected to grow 13% and 10% respectively.Its CEO has pegged the success of its wearables on incorporating features overlooked by other manufacturers, while one analyst says the company’s expertise in other areas -- such as flight displays and touchscreen monitors for military fighter jets -- bolsters the capabilities of its other gadgets.“The company that’s making that type of technology is putting GPS technology on your wrist,” said Ivan Feinseth, chief investment officer at Tigress Financial Partners.Winning the wearables market could prove lucrative as it’s slated to reach global shipments of 222.9 million units in 2019. That will grow to 302.3 million units in 2023, according to a forecast published in June from the International Data Corporation’s Worldwide Quarterly Wearable Device Tracker.(Updates with revenue growth breakdowns in 7th paragraph.)To contact the reporter on this story: Natalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Nate LanxonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Tech Taking Personal Healthcare by Storm: Stocks in Focus
    Zacks

    Tech Taking Personal Healthcare by Storm: Stocks in Focus

    Personal healthcare market is booming on expanding initiatives by tech giants like Apple (AAPL), Fitbit (FIT) and Alphabet (GOOGL), to name a few.

  • Peloton’s Risky Business Model
    Investopedia

    Peloton’s Risky Business Model

    Peloton filed its registration for an IPO on Tuesday, but while the company has attracted a unicorn-style valuation, its business model faces many risks.

  • Fitbit Watch with Alexa: A Challenger for Apple Watch?
    Market Realist

    Fitbit Watch with Alexa: A Challenger for Apple Watch?

    Fitbit (FIT) stock rose 5% today, driven by the launch of its new smartwatch, the Fitbit Versa 2. FIT is trading at $3, 57% below its 52-week high of $6.96.

  • Apple works on sleep tracking app for Apple Watch
    Yahoo Finance Video

    Apple works on sleep tracking app for Apple Watch

    Apple is reportedly working on a sleep tracking feature for the Apple Watch called "Time in Bed tracking;" no word yet on if Apple users will need to upgrade to the new watch or if it will work with older models, but people are expecting all will be revealed at Apple's event on September 10th. Yahoo Finance's Dan Howley joins YFi AM to discuss.

  • Fitbit adds Alexa powers, Apple changes Siri permissions
    CNET

    Fitbit adds Alexa powers, Apple changes Siri permissions

    In today’s top tech headlines, Fitbit announces that the Versa 2 model works with Amazon’s voice assistant, Apple won’t keep Siri recordings for analysis by default, and Google adds more age filters to the YouTube Kids app.