|Bid||7.36 x 800|
|Ask||7.37 x 3000|
|Day's Range||7.21 - 7.42|
|52 Week Range||4.51 - 7.79|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.06|
Fitbit (FIT) has estimated Q2 2018 revenue to be between $275 million and $295 million, a YoY (year-over-year) decline between 22% and 17%, respectively, compared to revenue of $353.3 million in Q2 2017. Fitbit has estimated non-GAAP (generally accepted accounting principles) EPS (earnings per share) to be between -$0.27 and -$0.23 in the quarter ended in June 2018, which represents a YoY decline between 22% and 17% for the firm compared to EPS of -$0.08 in Q2 2017.
Fitbit (FIT) reported a gross margin of 47.1% in Q1 2018, up from 40% in Q1 2017. The firm has attributed the 300-basis-point increase in gross margins to the one-time reserve release of $12.4 million associated with the Wynit bankruptcy filing and a 400-basis-point increase due to lower warranty reserves and movement in the of device mix towards trackers.
Six current and former Fitbit employees were charged in a federal indictment Thursday in San Jose as they were allegedly in possession of trade secrets that they stole from their competitor Jawbone, according to a file from the U.S. Department of Justice.
Fitbit and the now-defunct Jawbone had been feuding in court for years on whether Jawbone employees who were hired by Fitbit had brought over proprietary information.
As the graph below shows, Fitbit (FIT) shipped 15.3 million devices in fiscal 2017, a 31% YoY (year-over-year) decline compared to shipments of 22.3 million in fiscal 2016. Shipments for Fitbit rose exponentially by 250% YoY to 4.5 million units in fiscal 2013, 143.6% YoY to 10.9 million units in fiscal 2014, and 96% YoY to 21.4 million units in fiscal 2015.
A few days ago, Fitbit (FIT) announced the availability of the Fitbit Ace for $99.95. Fitbit Ace is a device that was specially designed for kids over the age of eight. The Fitbit Ace provides sleep goals, celebratory messages, and badges for users.
In the previous part of this series, we saw that Fitbit (FIT) has partnered with Google (GOOG) (GOOGL) to use the latter’s Cloud Healthcare API (application program interface) to help connect user data with EMRs (electronic medical records). Fitbit believes it can provide users access to personalized care, as EMRs provide an inclusive view of patients. Last year, Fitbit partnered with Dexcom a manufacturer of CGMs (constant glucose monitors) that are attached to the skin to measure real-time glucose levels.
The indictment filed in San Jose, California, alleges each defendant was aware that the trade secrets were stolen and that they were being possessed without authorization. The individuals had all worked for the now-defunct San Francisco-based Jawbone, owned by AliphCom Inc, for at least a year between May 2011 and April 2015, before being employed by Fitbit, it said. Each of them has been charged with one or more counts of possession of trade secrets and is scheduled to make an initial court appearance on July 9, the DoJ said.
SAN JOSE, Calif. (AP) — U.S. prosecutors have charged one current and five former employees of San Francisco-based Fitbit, Inc. with possessing trade secrets stolen from rival company Jawbone.
Six current and former employees of Fitbit Inc. were indicted by federal prosecutors Thursday for allegedly possessing trade secrets of now-defunct fitness-tracker rival Jawbone. "Intellectual property is the heart of innovation and economic development in Silicon Valley," Acting U.S. Attorney Alex G. Tse said in a statement.
It’s been one day since the FOMC press conference and announcement that the Federal Reserve will raise interest rates. Despite U.S. stock indexes barely budging, there was a lot of movement below the surface. Let’s look at some of that movement with our top stock trades.
Fitbit (FIT) stock rose over 15% in the week ended June 8. The stock again rose almost 20% over the last two days after Citron Research’s optimistic outlook on Fitbit. Citron Research stated that Fitbit stock could double by the end of 2018 driven by healthcare initiatives.
On June 4, Fitbit (FIT) announced that it had shipped over a million Fitbit Versa devices since the product launch on April 16 this year. Fitbit has attributed this strong demand to a smart product design, long battery life, and an attractive price point. Versa sales helped to drive Fitbit stock up over 15% in the week ended June 8.
Fitbit (FIT) stock has risen 35% since the firm announced its Q1 2018 results on May 1. The company’s stock was trading flat shortly after it announced results for the quarter ended in March 2018. Fitbit is currently trading at $7.39, which is 64% above its 52-week low of $4.51 and 5% below its 52-week high of $7.79.
NEW YORK, June 14, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Stein ...
Though many tech stocks still trade at reasonable valuations, the increases in some companies look more questionable.
In early May, I bought shares of Fitbit Inc (NYSE:FIT) before the company’s first quarter earnings report. Sometimes in the stock market, you’re right for the wrong reasons, and that is perfectly okay. Instead, Fitbit stock dropped after the Q1 report, despite strong numbers, due to a weak guide which called for persistent revenue declines and margin compression.
FBN's Tracee Carrasco on six current and former Fitbit employees with having stolen trade secrets from rival Jawbone.