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FIT $6.93

FIT target price
6.93
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0
Fitbit Inc.
Type
Public
Traded as NYSE: FIT
Industry Consumer electronics
Founded San Francisco, California, United States (May 1, 2007 (2007-05-01))
Founders James Park
Eric Friedman
Headquarters San Francisco, California, United States
Area served
Worldwide
Key people
James Park (CEO)
Eric Friedman (CTO)
Products See List of Fitbit products
Subsidiaries Pebble
Website www.fitbit.com

Fitbit (NYSE: FIT) is an American company headquartered in San Francisco, California, known for its products of the same name, which are activity trackers, wireless-enabled wearable technology devices that measure data such as the number of steps walked, heart rate, quality of sleep, steps climbed, and other personal metrics involved in fitness. The first product released was the Fitbit Tracker. Some evidence has found that the use of similar devices results in less weight loss rather than more.

Alongside the activity trackers, Fitbit offers a website and mobile app for iOS, Android and Windows 10 Mobile. The trackers can be synced to smart devices via Bluetooth or uploaded to a computer running Windows or macOS using the Bluetooth USB dongle. Users have the ability to log their food, activities, and weight, to track over time and can set daily and weekly goals for themselves for steps, calories burned and consumed, and distance walked. Calories in versus calories out is more accurately measured when app users keep their tracker on. However, the app can be used without a tracker to measure calories on a lifestyle app. The app offers a community page where users can challenge themselves and compete against other users. The social element anticipates an increase in motivation, finding that users take an average of 700 more steps per day when they have friends on the app. Users can choose to share their progress pictures and achievement badges.

The company plans to release its Fitbit Ionic smartwatch in October 2017 for $300.

In those who are overweight or obese, a 2016 study indicates that the use of wearable technology combined with standard behavioral weight loss intervention results in less weight loss after two years of use when compared to usual weight loss interventions. There was no evidence that the devices altered the amount that people exercised or their diet compared to control. A 2015 study found use of lifestyle apps demonstrate promising results in promoting healthy living in adults. It is unclear whether these devices affect the amount of physical activity children engage in.

A small 2014 study of eight fit band devices during a 69-minute workouts that included 13 different activities found the bands were at best "reasonably accurate", with the Fitbit Zip and Fitbit One scoring 10.1% and 10.4% error ratings, respectively.

A small 2015 study had participants wear multiple devices on their wrists and hips performing different walking/running speeds on a treadmill. Fitbit devices worn on the hip accurately measured steps taken within 1 step of 100% accuracy. Devices worn on the wrist, however, were off by an average of 11 steps per minute. When measuring the number of calories burned, Fitbit devices worn on the hip underestimated by an average of 6%, while devices worn on the wrist overestimated calories burned by 21%. Authors concluded that both the Fitbit One and Fitbit Flex devices reliably measured step counts and energy expenditure, with hip-based Fitbit devices being more accurate than wrist-based devices. These measurements did not address the question of health effects.

Fitbit, working with the Consumer Protection Safety Commission, recalled the Fitbit Force on February 20, 2014 because some users experienced allergic reactions to the materials used in the product. On March 12, 2014, the Consumer Product Safety Commission (CPSC) made the recall official. At that time, it was revealed that there were 9,900 reports of skin irritation and 250 reports of blistering . The product is no longer for sale on Fitbit's website.

In April 2017, a woman claimed her Fitbit Flex 2 malfunctioned and caught on fire, causing second-degree burns on her arm. Following an investigation, Fitbit is adamant the cause of the exploding tracker was due to external forces, assuring its customers it is not aware of any other complaints and they can confidently wear their own Fitbit with no concerns.

Headquartered in San Francisco, California, Fitbit was founded on May 1, 2007 by James Park (CEO) and Eric Friedman (CTO). On May 7, 2015, Fitbit announced it had filed for IPO with a NYSE listing. The IPO was filed for $358 million. The company's stock began trading with the symbol "FIT" on June 18, 2015. After Fitbit's stocks fell more than 50% in 2016, CEO James Park announced in October that the company was undergoing a major transformation from what he called a "consumer electronics company" to a "digital healthcare company."

On December 7, 2016, Fitbit officially announced that they acquired assets from Pebble, including key personnel, as the company decided to stop producing wearable technology. The acquisition excludes Pebble's hardware products.

In January 2017, Fitbit acquired Romania-based smartwatch startup Vector Watch SRL for $15 million.

Fitbit has won numerous awards, including runner-up at TechCrunch50 in 2008 and Innovation honoree and best in the Health & Wellness category at CES 2009. In 2016, Fitbit ranked 37 out of the 50 most innovative companies for that year. In 2016, the company was ranked #46 on the Deloitte Fast 500 North America list.

To set up and use the hardware, one has to create an account with Fitbit and agree to data collection, transfer and privacy rules.

Starting in June 2011, Fitbit was criticized for its website's default activity-sharing settings, which made users' manually-entered physical activities available for public viewing. All users had the option to make their physical activity information private, but some users were unaware that the information was public by default. One specific issue, which technology blogs made fun of, was that some users were including details about their sex lives in their daily exercise logs, and this information was, by default, publicly available. Fitbit responded to criticism by making all such data private by default and requesting that search engines remove indexed user profile pages from their databases.

The company's devices have also been used in criminal investigations; in one instance, a rape claim against an unnamed intruder was turned around to a criminal charge for false reports based on data from the claimant's Fitbit.

A Fitbit played a role in solving a murder. Connie Dabate was murdered by her husband Richard Dabate. Initially, Richard framed the situation, telling police and law enforcement officials that an intruder had broken into their home and fatally shot his wife. However, Connie’s Fitbit tracker showed that she was at the gym at the time Richard told police his wife was shot. Using Connie’s Fitbit and analyzing her movements, analysts were able to create a timeline that proved Richard had created a false story.

On March 5, 2017, Kelly Herron was using a public bathroom, when a man, who had been convicted of previous sex crimes, attempted to rape Herron. Herron fought her way out of the crime and the story became widely circulated because her Fitbit had tracked her frantic movements during her escape.

On March 10, 2015, Jeannine M. Risley fabricated a story in which an intruder appeared in her employer’s home she was staying at and raped her. Risley told police that a man had assaulted her around midnight. Police found a Fitbit lying on the floor when they arrived at the scene. Prosecutors used the Fitbit as evidence and data to determine what had occurred. The Fitbit revealed that Risley was active throughout the night, and the Fitbit surveillance analysis demonstrated Risley had not gone to bed like she stated to the police; therefore, proving Risley had lied to the police.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2020 2020-11-04 0.00 0.00
Q2 2020 2020-08-05 -0.12 -0.39
Q1 2020 2020-05-06 -0.24 0.07
Q4 2019 2020-02-20 -0.12 -0.46
Q3 2019 2019-11-06 -0.10 -0.20
Q2 2019 2019-07-31 -0.14 -0.27
Q1 2019 2019-05-01 -0.15 -0.31
Q4 2018 2019-02-27 0.14 0.06
Q3 2018 2018-10-31 0.04 -0.01

Ratings

2016-07-05 Reiterated Rating Citigroup Inc. Buy $30.00 to $20.00
2016-06-29 Reiterated Rating Dougherty & Co Neutral
2016-06-24 Reiterated Rating Leerink Swann Market Perform
2016-06-22 Reiterated Rating Raymond James Buy
2016-06-22 Reiterated Rating Pacific Crest Hold
2016-06-22 Reiterated Rating Raymond James Financial Inc. Buy
2016-06-16 Reiterated Rating Piper Jaffray Hold $16.00
2016-06-16 Reiterated Rating Piper Jaffray Cos. Hold $16.00
2016-06-09 Reiterated Rating Dougherty & Co Neutral
2016-06-09 Reiterated Rating Citigroup Inc. Buy $30.00
2016-06-08 Initiated Coverage Wedbush Outperform $18.00
2016-06-02 Reiterated Rating SunTrust Buy
2016-06-02 Reiterated Rating SunTrust Banks Inc. Buy
2016-06-01 Lower Price Target RBC Capital Outperform $45.00 to $40.00
2016-06-01 Reiterated Rating Dougherty & Co Neutral
2016-06-01 Lower Price Target Royal Bank Of Canada Outperform $45.00 to $40.00
2016-05-22 Reiterated Rating Oppenheimer Buy $25.00
2016-05-22 Reiterated Rating Oppenheimer Holdings Inc. Buy $25.00
2016-05-20 Reiterated Rating SunTrust Buy
2016-05-07 Reiterated Rating Morgan Stanley Overweight $32.00
2016-05-06 Reiterated Rating Oppenheimer Outperform $25.00
2016-05-06 Reiterated Rating Citigroup Inc. Buy $30.00
2016-05-06 Reiterated Rating SunTrust Buy $20.00
2016-05-05 Reiterated Rating Leerink Swann Hold $18.00
2016-05-03 Reiterated Rating Pacific Crest Hold
2016-05-03 Reiterated Rating Longbow Research Buy
2016-05-02 Reiterated Rating Mizuho Buy $20.00
2016-05-02 Reiterated Rating Piper Jaffray Hold $16.00
2016-04-21 Boost Price Target Cowen and Company Market Perform $19.00 to $20.00
2016-04-17 Reiterated Rating Piper Jaffray Hold
2016-04-16 Reiterated Rating Longbow Research Buy $20.00
2016-04-15 Boost Price Target Piper Jaffray Neutral $14.00 to $16.00
2016-04-14 Reiterated Rating Citigroup Inc. Buy $30.00
2016-04-13 Reiterated Rating Pacific Crest Hold
2016-04-11 Reiterated Rating Morgan Stanley Buy
2016-04-02 Upgrade SunTrust Buy
2016-04-01 Reiterated Rating Leerink Swann Market Perform $18.00
2016-04-01 Reiterated Rating Dougherty & Co Neutral
2016-04-01 Reiterated Rating Bank of America Buy $29.00
2016-04-01 Reiterated Rating Bank of America Corp. Buy $29.00
2016-03-31 Reiterated Rating Mizuho Buy $20.00
2016-03-31 Initiated Coverage Longbow Research Buy $20.00
2016-03-23 Reiterated Rating Dougherty & Co Hold
2016-03-15 Reiterated Rating Bank of America Buy $29.00
2016-03-08 Reiterated Rating SunTrust Buy
2016-03-08 Reiterated Rating Dougherty & Co Neutral
2016-02-24 Lower Price Target Barclays Overweight $49.00 to $24.00
2016-02-24 Reiterated Rating William Blair Hold
2016-02-24 Reiterated Rating Sterne Agee CRT Neutral $18.00
2016-02-24 Lower Price Target Barclays PLC Overweight $49.00 to $24.00
2016-02-23 Reiterated Rating Dougherty & Co Neutral
2016-02-23 Reiterated Rating Oppenheimer Outperform $25.00
2016-02-23 Lower Price Target Raymond James Outperform $25.00 to $23.00
2016-02-23 Lower Price Target Deutsche Bank Buy $50.00 to $28.00
2016-02-23 Downgrade Leerink Swann Outperform to Market Perform $33.00 to $18.00
2016-02-23 Downgrade Piper Jaffray Overweight to Neutral $24.00 to $14.00
2016-02-23 Reiterated Rating SunTrust Buy $25.00 to $20.00
2016-02-23 Downgrade Stifel Nicolaus Buy to Hold
2016-02-23 Downgrade Robert W. Baird Outperform to Neutral $30.00 to $16.00
2016-02-23 Downgrade Pacific Crest Overweight to Sector Weight
2016-02-23 Lower Price Target Mizuho Buy $38.00 to $20.00
2016-02-23 Downgrade Leerink Partner Outperform to Market Perform
2016-02-23 Lower Price Target Deutsche Bank AG Buy $50.00 to $28.00
2016-02-18 Reiterated Rating Piper Jaffray Overweight to Buy $60.00 to $24.00
2016-02-18 Reiterated Rating Pacific Crest Overweight to Overweight $47.00 to $31.00
2016-02-17 Reiterated Rating SunTrust Buy $30.00 to $25.00
2016-02-06 Reiterated Rating William Blair Market Perform
2016-02-05 Reiterated Rating Dougherty & Co Neutral
2016-02-05 Reiterated Rating Piper Jaffray Overweight $60.00
2016-02-05 Reiterated Rating Oppenheimer Buy
2016-02-04 Reiterated Rating Robert W. Baird Buy
2016-02-03 Reiterated Rating Leerink Swann Outperform $49.00 to $33.00
2016-02-02 Initiated Coverage Oppenheimer Outperform $25.00
2016-01-27 Initiated Coverage Citigroup Inc. Buy $35.00
2016-01-25 Lower Price Target RBC Capital Outperform $33.00 to $28.00
2016-01-21 Upgrade Raymond James Market Perform to Outperform $25.00
2016-01-21 Lower Price Target Stifel Nicolaus Buy $60.00 to $35.00
2016-01-19 Reiterated Rating Dougherty & Co Neutral
2016-01-19 Lower Price Target SunTrust Buy $48.00 to $30.00
2016-01-11 Reiterated Rating Robert W. Baird Buy
2016-01-07 Reiterated Rating Pacific Crest Overweight
2016-01-07 Lower Price Target Leerink Swann $81.00 to $49.00
2016-01-07 Reiterated Rating Barclays Overweight $49.00
2016-01-07 Reiterated Rating Morgan Stanley Overweight $99.00
2016-01-07 Reiterated Rating Sterne Agee CRT Neutral
2016-01-06 Lower Price Target RBC Capital Outperform $45.00 to $40.00
2016-01-06 Reiterated Rating Leerink Swann Outperform $81.00 to $49.00
2016-01-06 Reiterated Rating Piper Jaffray Overweight $60.00
2016-01-06 Reiterated Rating Mizuho Outperform $38.00
2016-01-05 Reiterated Rating SunTrust Positive to Buy $48.00
2016-01-04 Reiterated Rating Dougherty & Co Hold
2015-12-30 Reiterated Rating Barclays Buy
2015-12-29 Reiterated Rating Dougherty & Co Hold
2015-12-29 Initiated Coverage Barclays Positive to Overweight $49.00
2015-12-27 Reiterated Rating Pacific Crest Buy
2015-12-27 Reiterated Rating Piper Jaffray Buy
2015-12-21 Reiterated Rating Piper Jaffray Buy
2015-12-21 Reiterated Rating Pacific Crest Buy $47.00
2015-12-18 Initiated Coverage Mizuho Buy $38.00
2015-12-09 Reiterated Rating Barclays Buy $49.00
2015-12-09 Reiterated Rating Piper Jaffray Buy $60.00
2015-12-09 Initiated Coverage Ladenburg Thalmann Neutral $29.00
2015-12-08 Reiterated Rating Leerink Swann Outperform $81.00
2015-12-03 Reiterated Rating Piper Jaffray Buy $60.00
2015-12-03 Reiterated Rating Morgan Stanley Hold
2015-11-30 Reiterated Rating Stifel Nicolaus Buy $60.00
2015-11-30 Upgrade Barclays Equal Weight to Overweight $49.00 to $49.00
2015-11-27 Reiterated Rating Piper Jaffray Buy $60.00
2015-11-24 Reiterated Rating Leerink Swann Buy
2015-11-20 Reiterated Rating Piper Jaffray Overweight $60.00
2015-11-19 Reiterated Rating Cowen and Company Market Perform $41.00
2015-11-18 Reiterated Rating Leerink Swann Buy $81.00
2015-11-17 Upgrade Bank of America Neutral to Buy $48.00 to $36.00
2015-11-16 Reiterated Rating SunTrust Buy $52.00 to $48.00
2015-11-03 Reiterated Rating Cowen and Company Market Perform
2015-11-03 Reiterated Rating Leerink Swann Outperform $79.00 to $81.00
2015-11-02 Reiterated Rating Piper Jaffray Buy $60.00
2015-10-28 Boost Price Target Cowen and Company Hold $38.00 to $41.00
2015-10-27 Reiterated Rating Leerink Swann Buy
2015-10-22 Reiterated Rating Piper Jaffray Buy $60.00
2015-10-21 Initiated Coverage SunTrust Buy
2015-10-20 Reiterated Rating Leerink Swann Buy $79.00
2015-10-20 Reiterated Rating Morgan Stanley Overweight $58.00
2015-10-19 Reiterated Rating Pacific Crest Buy
2015-10-13 Reiterated Rating Pacific Crest Buy $47.00
2015-10-09 Reiterated Rating Leerink Swann Buy $79.00
2015-09-29 Initiated Coverage Piper Jaffray Buy $60.00
2015-09-28 Initiated Coverage Sterne Agee CRT Neutral $45.00
2015-09-21 Upgrade Barclays Equal Weight to Overweight
2015-09-15 Reiterated Rating Robert W. Baird Buy $54.00
2015-09-15 Reiterated Rating Piper Jaffray Buy $60.00
2015-09-15 Initiated Coverage Cleveland Research Neutral $38.00
2015-09-14 Initiated Coverage Pacific Crest Overweight $47.00
2015-09-10 Initiated Coverage Cowen and Company Market Perform $38.00
2015-09-09 Initiated Coverage FBN Securities Outperform $50.00
2015-09-08 Upgrade Morgan Stanley Equal Weight to Overweight $43.00 to $58.00
2015-08-24 Reiterated Rating Piper Jaffray Buy $60.00
2015-08-07 Reiterated Rating Morgan Stanley Equal Weight $43.00
2015-08-06 Downgrade SunTrust Buy $50.00 to $52.00
2015-08-06 Reiterated Rating Deutsche Bank Buy $50.00 to $52.00
2015-08-06 Downgrade Raymond James Hold
2015-08-06 Boost Price Target Robert W. Baird Equal Weight to Outperform $52.00 to $54.00
2015-08-06 Boost Price Target Barclays Equal Weight $45.00 to $49.00
2015-08-06 Boost Price Target Stifel Nicolaus Buy $57.00 to $60.00
2015-08-06 Downgrade Dougherty & Co Buy to Neutral $45.00
2015-08-06 Boost Price Target Leerink Swann Outperform $44.00 to $79.00
2015-08-06 Boost Price Target Piper Jaffray $60.00
2015-08-06 Boost Price Target RBC Capital Outperform $45.00 to $53.00
2015-08-04 Reiterated Rating Piper Jaffray Buy $52.00
2015-07-22 Reiterated Rating Leerink Swann Buy
2015-07-17 Reiterated Rating Morgan Stanley Hold
2015-07-14 Initiated Coverage RBC Capital Buy
2015-07-13 Initiated Coverage Bank of America Neutral $46.00
2015-07-13 Initiated Coverage SunTrust Equal Weight to Buy $42.10 to $50.00
2015-07-13 Initiated Coverage Deutsche Bank Buy $50.00
2015-07-13 Initiated Coverage Raymond James Market Perform
2015-07-13 Initiated Coverage Morgan Stanley Equal to Equal Weight $42.00
2015-07-13 Initiated Coverage Barclays Equal Weight $45.00 to $45.00
2015-07-13 Initiated Coverage Stifel Nicolaus Buy $57.00
2015-07-13 Initiated Coverage William Blair Market Perform
2015-07-13 Initiated Coverage Piper Jaffray Overweight $52.00
2015-07-08 Initiated Coverage RBC Capital Buy
2015-07-07 Initiated Coverage Robert W. Baird Outperform $52.00
2015-07-02 Reiterated Rating Dougherty & Co Buy $28.00
2015-06-30 Initiated Coverage RBC Capital Outperform $45.00
2015-06-25 Initiated Coverage Leerink Swann Outperform
2015-06-17 Initiated Coverage Dougherty & Co Buy $28.00
2016-07-05 Reiterated Rating Citigroup Inc. Buy $30.00 to $20.00
2016-06-29 Reiterated Rating Dougherty & Co Neutral
2016-06-24 Reiterated Rating Leerink Swann Market Perform
2016-06-22 Reiterated Rating Raymond James Buy
2016-06-22 Reiterated Rating Pacific Crest Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks