BIDNESS ECT - Nov 25 - In its last quarterly results, Fitbit reported above-consensus revenues and EPS, and posted a strong 4QFY15 guidance. However, the stock saw a sell-off, after the company’s management announced that it intends to sell 21 million shares in a secondary offering.
Fitbit Tracking Features For Charge HR And Surge
NASDAQ - Nov 24 - The new software update features a new SmartTrack feature with automatic exercise recognition and enhancements, that is, when wearing a Fitbit Charge HR fitness tracker or Fitbit Surge GPS watch, it automatically identifies exercises during workouts and records them to the Fitbit mobile app along with an exercise summary including information on time, calories burned and heart rate, thereby offering users praise for every active moment.
Jawbone Files Countersuit Against Fitbit
TECHCRUNCH - Nov 2 - In the countersuit, Jawbone denies all Fitbit's infringement allegations and calls the suit a "frivolous" misuse of Fitbit patents. In a separate statement, Jawbone says it's continuing to pursue three of its own prior legal actions against Fitbit over its own claims of patent infringement; stolen trade secrets; and an ITC injunction.
Fitbit Drops As Wearables Maker Plans Further Stock Offering
BLOOMBERG - Nov 2 - The shares declined as much as 9.9% in late trading after closing at $40.80 in New York. The stock-sale announcement overshadowed Q3 earnings and revenue that beat analysts' estimates. Fitbit has proposed to sell 7M shares and certain stockholders are planning to sell 14M shares. The selling stockholders will also grant underwriters a 30-day option to purchase as much as 3.15M more shares. The proceeds from the company's share sale will go toward generating more capital, as well as research and development, sales and marketing.
Fitbit Has Found Its Own Fit In The Market
BUSINESS FINANCE NEWS - Oct 24 - Despite the continuously growing number of competitors in the industry, Fitbit has managed to hold onto its mantle, due to diversity in its product offering and affordable price range. The fitness device maker has also managed to create a strong brand image, specifically in the fitness sector. Fitbit Q2FY15 results showcased its impressive performance in the industry, domestic and international, thus indicating positive future performance.
by Camilla Pritchard
See full article at Business Finance News
Fitbit Partners With Thermos For "Smart" Water Bottle
FORBES - Oct 22 - A sensor tube on the lid detects how much water is consumed throughout the day and syncs with the Thermos Smart Lid app through a Bluetooth connection. Vice president of global marketing at Fitbit, Tim Rosa says the company went with the Thermos partnership as opposed to a strictly wrist-worn device because it wants to provide users with "more connections."
FitBit Wearables Hacked In 10 Seconds
ITPRO - Oct 21 - According to Fortinet researcher Axelle Apvrille, a hacker could gain access to the wearable within 10 seconds. The infected tracker could then spread malware to other computers whenever the FitBit connects to them.
Fitbit Workers Must Hand Over Jawbone Trade Secrets
LAW360 - Oct 13 - Five Fitbit employees must hand over trade secrets they allegedly stole from rival fitness tracker maker Jawbone when they left the company and prove they've deleted any copies, a California judge ruled Tuesday, agreeing they had confidential Jawbone information that violated their employment contracts.
Fitbit Will Maintain Leadership
BUSINESS FINANCE NEWS - Oct 11 - Leerink issued a report on Thursdays, maintaining its positive view on Fitbit with an Outperform rating and $79 price objective, despite the launch of Microsoft's new fitness wearable on Tuesday. Although, the stock fell 7% in the following two days, the investment firm believes that Fitbit will continue to maintain its leadership in the wearables markets.
Fitbit Is Worth $8.6 Billion
SEEKING ALPHA - Sep 22 - Fitbit has a net current asset value of roughly $645M, and this makes the growth stock's valuation slightly more attractive. Shares of Fitbit have been on a roller coaster ride since its IPO following trajectories similar to other recent notable IPOs. While it's difficult to peg a fair value to a new company that is ramping up sales in a speculative growth market, Seeking Alpha believes Fitbit is worth just under $8.6B after considering the company's growth prospects into 2020 and beyond.
Fitbit Updates Surge Activity Tracker
THE VERGE - Sep 22 - Fitbit Surge will get a software update that will introduce a variety of new running-related features called "Run Cues." The Surge will now send an alert to the wearer when they have reached a predetermined distance. Lap, distance, and heart rate information will be available with a glance at the watch face during a run, and the Surge will have a timer and a stopwatch. The Surge will also get a battery boost and will now last 10 hours in active mode.
3 Reasons Fitbit Inc Will Revisit Its IPO Price
FOX BUSINESS - Sep 15 - In less than two months, the stock soared from its IPO price of $20 past $50. But after Fitbit's Q2 earnings report revealed a troubling decline in margins, the stock plunged back to the low $30s. Fitbit's valuations are simply too high, its products have low competitive barriers, and expenses will continue rising.
by Leo Sun
See full article at Fox Business
Target To Offer Fitbits To 335K Employees
BLOOMBERG - Sep 15 - The deal is one of Fitbit’s largest corporate accounts yet. While corporate services generate less than 10% of Fitbit’s revenue, it’s “one of the fastest-growing parts of the business,” CEO James Park said in an interview. Fitbit offers employers a dashboard where they can see an employee’s activity data, such as steps taken in a day. It also helps companies organize competitions and incentives to get workers moving.
by Caroline Chen & Shannon Pettypiece
See full article at Bloomberg
Big Pharma Hands Out Fitbits
BLOOMBERG - Sep 14 - What began as an aid for athletes and dieters to track their movements is quickly becoming a critical tool for medical researchers and drugmakers. By outfitting trial participants with wearables, companies are beginning to amass precise information and gather round-the-clock data in hopes of streamlining trials and better understanding whether a drug is working. Down the line, wearables also could help pharmaceutical makers prove to insurance companies that their treatments are effective, thus reducing health costs.
by Caroline Chen & Anna Edney
See full article at Bloomberg
Fitbit May Be Soaring, But It’s Still A Huge Buy
INVESTOR PLACE - Aug 25 - With Fitbit up 4% and trading around the $40 level, investors might be worried that they’ve missed their opportune moment to get FIT.The company is a dominant first-mover in the rapidly growing wearables market. Some figures put Fitbit’s share of the wearable fitness product category at 85%, and with the market expected to triple in size by 2018, Fitbit is poised to be a huge winner. Although there were concerns after the most recent quarter over Fitbit’s margins, the company’s 48% gross margin is higher than even the almighty Apple’s. Plus, Revenue jumped 250% in the second quarter, as earnings roared 130% higher, so margins definitely haven’t been a problem.
Microsoft Signs Deals To Take Advantage Of Fitness Wearables
TECH REPUBLIC - Aug 26 - Microsoft has recently signed deals with Fitbit and TaylorMade to integrate data from wearable gadgets and services directly into Windows 10 and the Microsoft ecosystem, allowing Microsoft to offer an integrated health and fitness service that matches or surpasses much of the competition.
Fitbit Heading For The Philippines, Indonesia And Taiwan
WAREABLE - Aug 24 - Fitbit VP and general manager for Asia Pacific Steve Morley said that the company is targeting Asian countries with high smartphone penetration, busy and modern lifestyles and the retail spaces to display its products. "These three elements are very important to us as it helps us position our brand nicely in the markets we go into," he said.
Fitbit Caters To Corporations
COMPUTERWORLD - Aug 12 - Fitbit is known for selling fitness trackers to consumers, but the company also sees its fortunes in the enterprise market. Corporate customers have different software needs than consumers, so Fitbit offers an enterprise software platform on a subscription basis. For enterprise users, Fitbit handles all logistics like shipping trackers to employees and emailing them log-in information to access the Web portal where their data is stored.
Fitbit’s Reveals $400M In Revenue And 4.5M Wearables Sold In Q2
VENTURE BEAT - Aug 5 - Fitbit has announced its first quarterly earnings since it went public in June, with reported earnings of 21 cents per share for the second quarter ended in June, while analysts had expected earnings of just 8 cents. Analysts had expected revenues of $139 million, but Fitbit delivered $400 million.
Jawbone Sues Fitbit For Third Time
CBR ONLINE - Jul 9 - Jawbone has filed a complaint against Fitbit with the US International Trade Commission, its third complaint in just two months, and wants to prevent Fitbit from ordering parts and importing its fitness trackers. The company is also calling for a ruling within 15 months and a cease-and-desist, which could come into place before the ruling is heard.
by Joao Lima
See full article at CBR Online
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