FIT - Fitbit, Inc.

NYSE - NYSE Delayed Price. Currency in USD
5.83
-0.23 (-3.80%)
At close: 4:03PM EDT
Stock chart is not supported by your current browser
Previous Close6.06
Open6.05
Bid0.00 x 1000
Ask5.90 x 29200
Day's Range5.81 - 6.06
52 Week Range4.23 - 7.79
Volume4,151,369
Avg. Volume5,104,562
Market Cap1.473B
Beta (3Y Monthly)1.01
PE Ratio (TTM)N/A
EPS (TTM)-0.76
Earnings DateApr 30, 2019 - May 6, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est6.81
Trade prices are not sourced from all markets
  • 3 "Internet of Things" Stocks to Buy Right Now
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    3 "Internet of Things" Stocks to Buy Right Now

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  • IDC: Wearables Volumes to Approach 200 Million This Year
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    IDC: Wearables Volumes to Approach 200 Million This Year

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    Playing IoT Massive Growth Forecast

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  • Forget Fitbit: Huami Is a Better Wearables Stock
    Motley Fool7 days ago

    Forget Fitbit: Huami Is a Better Wearables Stock

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  • CNBC8 days ago

    Fitbit's new trackers are cheap and work well, but they're super basic

    CNBC reviews the new Fitbit Inspire HR and Versa Lite, two affordable health trackers that work well but are very basic.

  • CNBC8 days ago

    Fitbit's new trackers are cheap and work well, but they're super basic

    Fitbit's new Inspire HR and Versa Lite are fitness trackers aimed to attract people who haven't owned a fitness band or smartwatch before. Fitbit FIT recently released the Inspire HR and Versa Lite, two new wearables for budget-conscious buyers. CNBC tested both and we think Fitbit has a good approach to the market, at least among potential buyers who find the Apple Watch too pricey.

  • 15 New Products Apple Might Release in 2019
    Kiplinger9 days ago

    15 New Products Apple Might Release in 2019

    Apple (AAPL, $183.73) is expected to release a glut of new products this year. And for the company's sake, it should.Apple ran into the brick wall of a slowing global smartphone market last year; smartphone shipments have logged five consecutive quarters of year-over-year declines. The trend is clear, and Apple isn't immune. In fact, Apple has more to lose than many of its smartphone competitors because the iPhone is its primary revenue generator. It was a decade of record-breaking iPhone sales that pushed Apple to become a trillion-dollar company in 2018.Apple responded to slowing demand by increasing the price of its flagship iPhones, leveraging the higher average sale price to buoy revenue, even as iPhone unit sales fell. That helped to plaster over the problem for a while, but in January the company reported that quarterly iPhone revenues had declined a whopping 15% from the previous year.Clearly Apple must count on other products and services to take up the iPhone revenue slack. So look for 2019 to be a busy one for Apple CEO Tim Cook as his company cranks up the product releases.Here are 15 new products we expect Apple to announce at various events throughout 2019. SEE ALSO: 10 Apple Products That Changed Everything (And 10 That Didn't)

  • Reuters10 days ago

    Fitbit replaces auditor PricewaterhouseCoopers with Grant Thornton

    (Reuters) - Wearable device maker Fitbit Inc has dismissed auditor PricewaterhouseCoopers LLP after a review of its fees and appointed Grant Thornton LLP, the company said in a regulatory http://bit.ly/2T4Jpuj ...

  • Google Reportedly Pulling Back on Laptop and Tablet Hardware
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  • Fitbit Versa Lite review: A smartwatch for the budget-conscious
    Yahoo Finance11 days ago

    Fitbit Versa Lite review: A smartwatch for the budget-conscious

    The Fitbit Versa Lite is a capable, low-cost smartwatch that's worth checking out.

  • TheStreet.com11 days ago

    Market Shrugs as Fitbit Puts a Lot on the Line With Its New Products

    latest soda release, Orange Vanilla Coke, said to be the company's first new flavor in 12 years. In any event, while the packaging was slick and very eye-appealing, I was soundly disappointed with the taste, just as I was with California Raspberry (have not yet tried Georgia Peach). Of course, tastes differ among consumers, and it will be interesting to see if Orange Vanilla Coke will resonate.

  • GlobeNewswire11 days ago

    Taking it to the Cloud with Fitness and Health

    Investorideas.com, a global investor news source covering tech and cloud stocks, releases a snapshot looking at how cloud technology is playing a leading role in the future of health and fitness. According to recent research, “The global healthcare cloud computing market is expected to register a CAGR of 18% during the forecast period, 2018 to 2023. With the increasing adoption of healthcare informatics, the healthcare information system service providers are significantly implementing the cloud-based software, as it comprises less investment and minimal support requirements, in terms of technology.

  • Markit12 days ago

    See what the IHS Markit Score report has to say about Fitbit Inc.

    Fitbit Inc NYSE:FITView full report here! Summary * Bearish sentiment is moderate * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is moderate for FIT with between 5 and 10% of shares outstanding currently on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NeutralETF activity is neutral. ETFs that hold FIT had net inflows of $1.49 billion over the last one-month. While these are not among the highest inflows of the last year, the rate of inflow is increasing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Goods sector is rising. The rate of growth is strong relative to the trend shown over the past year. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to score@ihsmarkit.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.

  • Fitbit Versa Lite review: A pretty good value if exercise is the goal
    MarketWatch12 days ago

    Fitbit Versa Lite review: A pretty good value if exercise is the goal

    With the Fitbit Versa Lite smartwatch, you get pretty decent bang for your buck, but only if you’re looking for specific abilities.

  • Why Fitbit Stock Isn’t Interesting Anywhere Above $5
    InvestorPlace13 days ago

    Why Fitbit Stock Isn’t Interesting Anywhere Above $5

    Shares of Fitbit (NYSE:FIT) started 2019 out with a bang on optimism regarding Versa smartwatch sales during the holiday season. Fitbit stock rallied from a sub-$5 low in late 2018, to nearly $7 by mid-February.Source: Shutterstock But, around that time, I warned that the rally in Fitbit stock was on its last legs, and that the "next big move in the stock will likely be lower." Fast forward three weeks. The next big move in Fitbit stock has happened, and it was a big move lower.Fitbit reported disappointing holiday quarter numbers in late February that included flat revenue growth, tepid device growth, continued gross margin erosion, and a weak guide which implied that the big turnaround everyone was hoping for, will progress a lot more slowly than expected. Fitbit dropped big in response. It now trades under $6, or about 15% off its pre-earnings highs.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Top Stocks to Buy From Goldman Sachs' Secret Portfolio Unfortunately, this drop is only the beginning. The company's fourth quarter numbers and guide illustrate a dour reality for Fitbit. Simply, the wearables market has largely moved on without it and growth going forward will be tepid at best.When it was up at $7, Fitbit stock was priced for big growth. Down at $6, the stock isn't priced for big growth anymore. But, it still isn't priced for tepid growth, either.Instead, tepid growth isn't appropriately priced in until around a $5 price tag. Thus, until Fitbit stock drops to $5, it's best to stay on the sidelines. The Numbers Aren't GoodThere were murmurs that a Versa smartwatch boom was going to drive really strong holiday numbers, which would pave the path for a potential 2019 turnaround through a strategic smartwatch pivot.None of that is happening. Instead, revenue growth was flat in the fourth quarter, with all growth coming from the still nascent Asia-Pacific market (all other developed markets saw revenues drop year-over-year). Device sold growth was 3%. Average selling prices dropped 2%. Gross margins took a big hit thanks to the smartwatch shift.In other words, even during what was supposed to a blockbuster turnaround quarter for Fitbit thanks to its best product yet, the company still barely grew.The guide implied things won't get better any time soon. Device sold growth is expected to be only mildly positive in 2019, while ASPs are expected to keep dropping. Revenue growth is expected in the low single digit range. Gross margins are guided to keep falling. Operating leverage will continue, but at a lesser rate.Overall, the takeaway is clear: the big Fitbit turnaround isn't coming. Instead, there is a mini-Fitbit turnaround happening right now. But, that turnaround is characterized by low single digit top line growth and continued gross margin pressures.There are plenty of reasons behind this tepid turnaround, most of which have to do with the fact that the wearables market has simply fallen in love with other products, and Fitbit's share in this market is becoming increasingly niche. Nonetheless, the numbers don't lie, and the numbers imply that growth will be largely unimpressive going forward. The Valuation Still Has Room to FallFitbit still isn't priced appropriately considering its tepid long term growth prospects.The math here is simple. We are talking about a $1.5 billion revenue company that is projected to grow at a low single digit rate over the next several years. At best, that puts revenues around $1.8 to $1.9 billion by 2025. Gross margins are getting hit by the smartwatch pivot, but have potential to stabilize around 40%. Assuming opex dollars continue to drop towards $600 million by 2025, that would equate to a 32-33% opex rate.Putting all that together, a realistic best case scenario for Fitbit is $1.85 billion in revenues by 2025 on high single digit operating margins. Reasonably speaking, that could flow into around $0.40 in EPS by 2025.Based on competitor Garmin's (NYSE:GRMN) average forward P/E multiple of 18, that equates to a 2024 price target for Fitbit stock of just over $7. Discounted back by 10% per year, that equates to a fiscal 2019 price target of just under $5.As such, Fitbit stock isn't worth considering in 2019 until it drops below $5. Bottom Line on FIT StockFitbit stock yet again hit a wall called reality in late February, and the stock is feeling the aftershocks of that head-on collision. These aftershocks will stick around because the valuation is still too big considering the company's long term growth prospects. A drop to $5 within the next few months seems likely.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Growth Stocks Racing to All-Time Highs * 5 Warren Buffett Stocks You Can't Go Wrong With * Game On for These 3 Gaming Stocks Compare Brokers The post Why Fitbit Stock Isn't Interesting Anywhere Above $5 appeared first on InvestorPlace.

  • Fitbit (FIT) Partners With Solera Health to Reduce Diabetes
    Zacks13 days ago

    Fitbit (FIT) Partners With Solera Health to Reduce Diabetes

    Fitbit (FIT) expands partnership with Solera Health in a bid to expand its share in the healthcare market.

  • Fitbit launches cheaper Versa smartwatch, tracker for kids as young as 6 to broaden appeal
    MarketWatch14 days ago

    Fitbit launches cheaper Versa smartwatch, tracker for kids as young as 6 to broaden appeal

    Fitbit Inc. is betting that lower prices will attract more customers to its wearables, including children as young as 6 years old.

  • Reasons to Buy Fitbit Stock If It Dips
    InvestorPlace14 days ago

    Reasons to Buy Fitbit Stock If It Dips

    In the investing world, the problem with fad stocks is that they come and go. That happened so many times, on many occasions, and with the same results in the end. Fitbit (NYSE:FIT) stock dominated the wearables market when fitness tracking became a hot trend.Source: Shutterstock Same with GoPro (NASDAQ:GPRO), with its action cameras. 3D printing had a nice run. Of all the fads that faded in recent times, Fitbit still has a chance to revive itself.So, did the company show evidence of that in its last quarter?InvestorPlace - Stock Market News, Stock Advice & Trading Tips 2018 Highlights for FitbitIn 2018, Fitbit generated $1.51 billion in revenue but lost 20 cents a share (non-GAAP). For a company trying to still set trends in wearables, its ASP (average selling price) did not support that view. ASP rose just 4% to $105 per device. Gross margin (also non-GAAP) fell 250 basis points, to 40.9%. The company benefited from emphasizing more on smartwatches, though selling end of life devices at a discount was still a drag. * 5 Airline Stocks In Serious Trouble Costs related to warranty and customer support fell, which is a good sign that product quality improved. Back when Fitbit was hot and its stock was flying high, word of mouth spread that the wearables were of low quality and would break just after the warranty period. That customers needed less support in Q4 is a positive sign.In the fourth quarter, Fitbit earned 14 cents a share (non-GAAP) on revenue of $571 million. ASP for the quarter fell 2% to $100. Unfortunately, gross margin fell 550 basis points to 38.7%. The sharp drop might explain the shareholder disappointment of the results that sent the stock from $7 down to around $6. Product Mix With More SmartwatchIn 2018, Fitbit grew smartwatch revenue to 44% of total sales, up from 8% the previous year. This fundamental shift is needed for its survival. Apple (NASDAQ: AAPL) Watch is already in its fourth iteration. Samsung continues to offer smartwatches at a wide range of sophistication. Older Samsung smartwatches are priced close to that of Fitbit smartwatches. Yet Fitbit still gets to claim the title of being the No. 2 smartwatch company in the U.S. (slide 6).In the fitness tracking space, Fitbit's Charge 3 will continue to grow in sales, as consumers demand only health and fitness tracking. Costs Under Control for FIT StockGross margin falling year-on-year despite Fitbit cutting expenses by 12% to $701.7 million in the year. It owes the lower operating expenses to disciplined spending in marketing, lower reliance on promotions, and lower POP spend. R&D cost cuts were the least within the Opex, down just 4%. By comparison, sales and marketing costs fell 17% while General and Administrative fell 12%.Fitbit has an opportunity to rekindle its former growth levels. It is starting to monetize its active user community, sees wearable macro trends improving, and will benefit from smartwatch adoption rates. Its penetration in corporate will have a positive impact on the overall results.Corporations and health insurers benefit if workers wear Fitbits. Corporations are subsidizing the devices, which will drive Fitbit sales in 2019. By stabilizing operating costs, Fitbit is at an inflection point where revenue growth outpaces costs. In the next quarter, look for gross margin trending back towards 40%. Management expects it will get to that level in the full year 2019. Fashion StatementFitbits come in a number of sizes and shapes. Many customers prefer the slim tracker over the watch design. And while cheaper slim models lower the ASP, the software is the same. As Fitbit cross-sells high-margin premium software, called Fitbit Coach, profits will go up. Fitbit also has the opportunity of refining its advertising to target those who enjoy high-intensity activities. Fitbit Coach would offer what they need. ValuationSource: https://simplywall.stBased on its future cash flow, FIT stock trades close to its fair value. That valuation target could go up if the company grows sales this year. It has a good chance of doing so, especially after refreshing its product line and putting more attention on the smartwatch.Watch for Fitbit stock to hold the $5.50-$6 support line (Based on the 50- and 200-day moving average). If it does not fall below that, consider accumulating the stock on the dip and before the next earnings report.As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks Already Rewarding Shareholders In 2019 * The 10 Best-Performing ETFs This Year * 7 Stocks That Should Be Worried About a Data Dividend Compare Brokers The post Reasons to Buy Fitbit Stock If It Dips appeared first on InvestorPlace.

  • Tech Stocks This Week: Fitbit's New Devices and Facebook's Vision for Messaging
    Motley Fool15 days ago

    Tech Stocks This Week: Fitbit's New Devices and Facebook's Vision for Messaging

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  • Will New Products Help Spur Fitbit (FIT) Stock Growth?
    SmarterAnalyst16 days ago

    Will New Products Help Spur Fitbit (FIT) Stock Growth?

    Fitbit (FIT) released a number of updates and new additions to its product line Wednesday. The company announced the release of the Versa Lite, Inspire and Ace 2, as well as a slew of new accessories to go along with their smartwatches. Expectations remain high for the company after recently posting another strong quarter. Roth Capital analyst Scott Searle remains bullish on the stock, maintaining his Buy rating and $8 price target, which implies about 40% upside from current levels. (To watch the Searle's track record, click here) Read More on FIT: Fitbit Stock Is Fully Valued – Time to Move to the Sidelines, Says Analyst Perhaps the most important new product is the Versa Lite. Searle says this new product, which will be available in two weeks, “lowers the entry threshold for smartwatches” as it will retail for $160. The analyst believes “this segment [smartwatches <$200) will continue to be a key driver of growth in the 45M unit smartwatch market…[while also continuing] to drive incremental Fitbit share from ~12% in 4Q18 to 15-20% over the next two years.”While the Versa Lite may have been the most notable new product, Searle is excited about Fitbit’s formal announcement of “the healthcare focused Inspire and Inspire HR tracker.” The analyst believes the products “will drive the growth in Healthcare solutions including potentially software and Fitbit Care opportunities.” As FitBit has relationships with more than 100 healthcare providers, Searle says, “Inspire HR devices could be subsidized or given away through healthcare channel partners.” Searle believes the healthcare track is an important route for FitBit. He says, “continued growth of trackers through these channels drives better outcomes and lower healthcare costs, as well as feeds the data flywheel for other digital therapeutic monetization opportunities such as the treatment of chronic conditions such as diabetes, hypertension, arrhythmia, sleep apnea, etc. Combined with the Ace 2, these trackers will continue to help stabilize the category and maintain industry leading share, in our opinion.” While the company issued decline average selling prices (ASPs) in its guidance last week, Searle says “these new product introductions…clarify” the decline. The analyst expects “these product extensions to drive incremental share (smartwatches) and drive [gross margin] expansion,” while expecting this year to be FitBit’s first growth year since 2016. FitBit is a relatively small company compared to other publicly traded companies, even as it is widely known as a popular consumer product. Fitbit’s market cap is valued at $1.5 billion and has an average trading volume (3 month) of less than 5 million shares per day. Over the past three months, TipRanks analysis shows only three analyst rating on the company, including two Buy ratings and one Hold rating. The  average price target among these analysts stand at $7.17, representing a 25% upside from where FIT stock is currently trading. (Get TipRanks' free stock analysis report on FIT) More recent articles from Smarter Analyst: * General Electric's (GE) "Teach-In" Boosts Investor Confidence; RBC Weighs in on the Stock * Cannabis Stock Tilray (TLRY) Goes Negative for the Year; Here's Why * Is General Electric (GE) Stock Still a Buy for the Long-Term? * Top Analyst Remains Bullish on Shopify (SHOP) Stock After Shoptalk Conference

  • Fitbit Unveils Low-Cost Fitness Wearables to Curb Competition
    Zacks16 days ago

    Fitbit Unveils Low-Cost Fitness Wearables to Curb Competition

    Fitbit (FIT) releases new fitness wearables in a bid to combat competition and expand its share in the smartwatch market.

  • Fitbit unveils 4 new wearables ahead of premium health service debut
    Yahoo Finance Video11 days ago

    Fitbit unveils 4 new wearables ahead of premium health service debut

    Yahoo Finance's Alexis Christoforous speaks to Tech Editor Dan Howley about the four new wearables Fitbit launched.