FIT - Fitbit, Inc.

NYSE - NYSE Delayed Price. Currency in USD
3.4500
-0.1900 (-5.22%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close3.6400
Open3.6500
Bid3.4400 x 38800
Ask0.0000 x 40000
Day's Range3.4200 - 3.6600
52 Week Range2.8100 - 6.9600
Volume6,423,351
Avg. Volume5,785,467
Market Cap891.29M
Beta (3Y Monthly)0.76
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
  • Benzinga

    Fitbit Pulls Out Of China To Escape Tariffs

    The Trump administration’s trade policies have finally gotten to Fitbit Inc (NYSE: FIT ). The company announced Wednesday that it would shift certain product manufacturing from China to another market ...

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  • Two Gadget Makers Look to Move Manufacturing Out of China, Citing Trade War
    Bloomberg

    Two Gadget Makers Look to Move Manufacturing Out of China, Citing Trade War

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Two American consumer electronics companies said this week that they’re looking to shift manufacturing away from China and into other countries, citing pressures from import tariffs on their products amid the trade war.Fitbit Inc. said on Wednesday that it would stop Chinese manufacturing of its health trackers and smartwatches by January. Tile Inc. said it’s also considering plans to make its Bluetooth-enabled location trackers in other countries, after the company was hit with tariffs last month.“The biggest challenge for a company like Tile is our ability to plan for shifting changes in U.S. policy toward China,” said Chief Executive Officer CJ Prober. “With recent impacts, we are looking at other regions.”Tile on Tuesday added a new sticker to its lineup of tracking devices that help customers keep tabs on keys, wallets and the like, and raised $45 million in funding in its last round of funding earlier this year. The gadget maker does the majority of its manufacturing in China, but as the U.S.-China trade war has escalated, it’s now considering Mexico, Malaysia, Vietnam and “possibly the U.S.” as future manufacturing hubs, Prober said.“We are re-evaluating our entire supply chain and how we do what and where,” he said, adding that in recent weeks, Tile had dedicated an “entire team” to the task of traveling to different cities and evaluating manufacturing facilities. In a sign of concern from investors about the potential costs of relocating these operations, shares of San Francisco-based Fitbit fell as much as 2% Wednesday after announcing the move from China.Several U.S. companies, long accustomed to using China as a manufacturing base, are now looking to reduce their exposure to the country. Last year, GoPro Inc. announced it would move much of its U.S.-bound camera production out of China to avoid potential tariffs, and has largely accomplished that goal, according to a spokesman. In August, HP Inc.’s laptop maker Inventec Corp. said it will shift production of notebooks for the U.S. market away from China. Apple Inc. has been doing battle with the White House over requests to get the iPhone and other products off the list of Chinese-made goods slated to be hit with tariffs on Dec. 15.The latest $300 billion round of duties will impact essentially all remaining Chinese imports—with some exceptions, though details around which imports will be exempted are still unclear. Trade policy between the world’s two largest economies is still in flux. Chinese Vice Premier Liu He is set to visit the U.S. this week for further trade talks.“We are supportive of the overall policy” of the U.S. in its negotiations with China, Tile’s Prober said. But “what’s been challenging is the implementation of that policy.” The company “only got a few weeks’ notice” that its products would be subject to new tariffs before they went into effect in September, he said. (Updates with Fitbit news in the second paragraph.)To contact the author of this story: Candy Cheng in San Francisco at ccheng86@bloomberg.netTo contact the editor responsible for this story: Anne VanderMey at avandermey@bloomberg.net, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Fitbit to Move Manufacturing of Smartwatch, Tracker Out of China
    Bloomberg

    Fitbit to Move Manufacturing of Smartwatch, Tracker Out of China

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Fitbit Inc. said it’s shifting manufacturing operations out of China for all of its health trackers and smartwatches to avoid U.S. tariffs on imports from the country.Starting in January, the company expects those products won’t be of Chinese origin and therefore not subject to import duties, Fitbit said in a statement Wednesday. Fitbit said it will give more details on the financial implications of the move during its third-quarter earnings conference call.Shares in San Francisco-based Fitbit fell 2% at 11:35 a.m. in New York, leaving them down 27% this year.Fitbit joins other U.S. companies moving out of China amid an ongoing trade war between the two countries. Tile Inc., which makes Bluetooth-enabled location trackers, also said it’s considering a similar move and is looking at Mexico, Malaysia, Vietnam and “possibly the U.S.” as future manufacturing hubs. Last year, GoPro Inc. announced it would move much of its U.S.-bound camera production out of China. And Apple Inc. has been battling the White House over requests to get the iPhone and other products off the list of Chinese-made goods slated to be hit with tariffs on Dec. 15.“This is a great example of companies making proactive decisions to mitigate tariff related-risk by, in this case, taking their entire supply chain out of China,” said Tom Forte, an analyst at D.A. Davidson. Others “may choose to follow suit as this trade war gets long and diffuse, and potentially escalates.” Davidson, who has a buy rating on Fitbit, said the stock market isn’t giving companies enough credit for their efforts to mitigate tariff-related risks. “I expect that as earnings season comes we’ll be hearing a lot more about this from companies.”Trade negotiators are heading to Washington for talks starting Thursday and China is open to reaching a partial trade deal with the U.S., an official with direct knowledge of the discussions said. The trade talks have failed to make serious headway since negotiations collapsed in early May.(Updates with shares in third paragraph; analyst quote in fifth paragraph.)To contact the reporters on this story: Molly Schuetz in New York at mschuetz9@bloomberg.net;Kiley Roache in New York at kroache@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • TheStreet.com

    Fitbit Announces Plans to Move Production Out of China

    Fitbit began looking for manufacturing opportunities outside of China starting in 2018.

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  • Wearable device Fitbit to shift production out of China from January
    Reuters

    Wearable device Fitbit to shift production out of China from January

    The company said it began exploring alternatives to China in 2018 as Washington and Beijing engaged in a tit-for-tat tariff war that has upended global supply lines and roiled financial markets. Fitbit in June joined a group of U.S. companies in filing letters of opposition to President Donald Trump's plan for more U.S. tariffs on Chinese goods. Fitbit's smart watches, along with Apple Inc's AAPL.O AirPods, Apple Watch and HomePod, smart speakers from Amazon.com Inc and Alphabet Inc's Google , failed to win a reprieve from the 10% U.S. tariff that started from Sept. 1.

  • MarketWatch

    Fitbit shares jump 4% premarket after company unveils plans to move supply chain out of China to avoid tariffs

    Fitbit Inc. shares jumped 4% in premarket trade Wednesday, after the maker of wearables said it's diversifying its supply chain out of China to avoid U.S.-imposed tariffs. The company said it expects all of its trackers and smartwatches to be exempt from tariffs from January 2020. "In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China," Chief Financial Officer Ron Kisling said in a statement. "As a result of these explorations, we have made changes to our supply chain and manufacturing operations and have additional changes underway." Shares have fallen 26% in 2019, while the S&P 500 has gained 15%.

  • Business Wire

    Fitbit Diversifies its Supply Chain Outside of China

    Fitbit (FIT) today announced that it has undertaken a plan to shift its manufacturing operations outside of China for effectively all of its trackers and smartwatches. As a result, starting in January 2020, the company expects those products will no longer be of Chinese origin and therefore not subject to Section 301 tariffs. “In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China.

  • TheStreet.com

    Fitbit to Shift Manufacturing Operations Out of China

    Fitbit has had enough of the fallout from the trade war between the U.S. and China and as a result will move manufacturing operations outside of China for all of its trackers and smartwatches. Starting in January 2020, the products will no longer be of Chinese origin, and therefore not subject to Section 301 tariffs. "In 2018, in response to the ongoing threat of tariffs, we began exploring potential alternatives to China.

  • Why Gold's Gym is betting on wearable technology
    American City Business Journals

    Why Gold's Gym is betting on wearable technology

    Gold’s Gym currently has a three-year strategy for innovation that not only involves digital technology, but also innovating on new brick and mortar products, according to the company's president and CEO.

  • Benzinga

    15 Most Popular Stocks Under $10, According To Robinhood Users

    Stocks priced under $10 per share may seem cheap on first glance. But stocks with low share prices often end up there because they have gotten hit by heavy selling pressure. Robinhood keeps a running list ...

  • Simply Wall St.

    We're Excited To See How Fitbit (NYSE:FIT) Uses Its Cash Hoard To Grow

    We can readily understand why investors are attracted to unprofitable companies. For example, although...

  • Could Fitbit Be a Good Fit for Google Parent Alphabet?
    Market Realist

    Could Fitbit Be a Good Fit for Google Parent Alphabet?

    Fitbit (FIT) is reportedly considering putting itself up for sale. It could attract acquisition interest from Google parent Alphabet (GOOGL).

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    Fitbit (FIT) Collaborates With FibriCheck to Reduce Stroke

    Fitbit (FIT) partners with FibriCheck in a bid to expand its share in the healthcare market.

  • Business Wire

    Fitbit and FibriCheck Announce Partnership to Deliver CE-Marked Heart Health Detection App to Fitbit Smartwatch Users in Europe

    Fitbit (FIT) and FibriCheck, an innovative health screening and monitoring app, today announced a partnership enabling users in Belgium, the Netherlands, Ireland and the UK to monitor their heart rhythm for irregularities, such as Atrial Fibrillation (Afib) directly from their Fitbit smartwatch. The FibriCheck app runs on Fitbit OS and uses Fitbit’s commercial-grade PPG (photoplethysmography) sensors – light-based technology that measures the rate of blood flow – to capture heart rhythm measurements from a user’s wrist. The measurement assessment can be viewed directly on the smartwatch screen and easily shared with medical professionals via a FibriCheck web interface to help diagnose conditions such as Afib.

  • InvestorPlace

    Fitbit News: FIT Stock Moving on Sale Rumors

    Fitbit (NYSE:FIT) news for Monday about the company considering a sale of its business has FIT stock moving.Source: Faiz Zaki / Shutterstock.com According to recent reports, Fitbit is in talks with investment bank Qatalyst Partners about a possible sale. However, the company hasn't decided on a sale yet and it just seeking an advice on if it should look more into the possibility.Anonymous sources in the report claim that Qatalyst Partners has been pushing Fitbit toward such a plan. While these signs point toward the wearables company considering the action, it doesn't mean it will happen.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe idea behind this Fitbit news is that it would allow the company to be picked up by a larger tech company. Specifically, these reports make mention of Alphabet (NSDAQ:GOOG,GOOGL), which is Google's parent company, reports Reuters.The idea of Alphabet picking up Fitbit is an interesting one. Fitbit has had trouble dealing with larger rivals in the wearables market, like Apple (NASDAQ:AAPL). With the help of Alphabet, the company's devices may stand a better chance at reaching more customers. * 7 Worst Stocks in the S&P 500 in 2019 Fitbit and Google coming together isn't unheard of. Back in 2018, the two companies reached an agreement that connects the FIT wearable devices to medical records systems. It also switched over to Google's cloud services as well, reports USA Today.FIT stock was up 1% as of Monday afternoon, but is down 23% since the start of the year.As of this writing, William White did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Worst Stocks in the S&P 500 in 2019 * 7 Reasons to Own Intuit Stock -- The Unsung Hero of Fintech * Apple and 4 Other Tech Stocks on the Move The post Fitbit News: FIT Stock Moving on Sale Rumors appeared first on InvestorPlace.

  • Benzinga

    PreMarket Prep Recap: Fitbit, Exact Sciences Headlines; US Steel Downgrade 'A Bit Late To The Party'

    Fitbit Inc (NYSE: FIT) had a nice Friday after it was revealed the company was in talks about the possibility of a sale. The other notable news stock discussed on Monday's show was Exact Sciences Corporation (NASDAQ: EXAS). After its retreat from all-time-highs over the last few weeks, it was anticipated Exact Sciences would find some sellers in the form of investors looking to take profits or minimize losses.

  • Implied Volatility Surging for Fitbit (FIT) Stock Options
    Zacks

    Implied Volatility Surging for Fitbit (FIT) Stock Options

    Investors need to pay close attention to Fitbit (FIT) stock based on the movements in the options market lately.

  • Fitbit Stock Rises as Acquisition News Excites Investors
    Market Realist

    Fitbit Stock Rises as Acquisition News Excites Investors

    Fitbit stock climbed on September 20 after reports claimed the consumer technology giant had hired a boutique investment company to explore a sale.

  • TheStreet.com

    Is Fitbit Ripe for a Takeover?

    FIT indeed has much to prove, the early 2015 euphoria is gone, and most growth investors have moved on.

  • Fitbit CEO on speculation of potential sale: there's always going to be rumors
    Yahoo Finance Video

    Fitbit CEO on speculation of potential sale: there's always going to be rumors

    Yahoo Finance's Melody Hahm sits down with Fitbit CEO James Park at the TechCrunch Disrupt conference in San Francisco.

  • Fitbit is considering a sale, Google may be a possible buyer: RPT
    Yahoo Finance Video

    Fitbit is considering a sale, Google may be a possible buyer: RPT

    Yahoo Finance's Brian Sozzi says that Fitbit's "newer watches are not selling and they have not diversified from wearables," causing a major issue for the company, especially after Apple revealed its latest version of the Apple Watch.