FitBit (FIT)

FitBit (FIT)

Postby winston » Thu Jun 18, 2015 8:09 pm

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FitBit (FIT), the maker of fitness-tracking gadgets, priced its initial public offering above expectations at $20 a share last night, giving it a valuation of $4.1 billion heading into its New York Stock Exchange debut today.

Source: CNBC
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Re: FitBit (FIT)

Postby behappyalways » Fri Jun 19, 2015 10:51 am

Fitbit shares soar on first day of trading in New York
http://www.bbc.com/news/business-33172222
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Re: FitBit (FIT)

Postby behappyalways » Sat Jun 20, 2015 1:47 pm

Wearable technology: Miss fit

Neither profits nor a successful share offering guarantee long-term success


FITBIT makes wearable devices that help people track their daily activities, such as exercise and sleep. Of late, however, Fitbit has been the one submitting itself to close monitoring.

Prospective investors have been poring over the company’s financial information before the company’s launch on the New York Stock Exchange on June 18th. Its expected valuation of more than $4 billion would make it one of this year’s largest initial public offerings.

Fitbit’s high valuation reflects the excitement over the potential of wearables (see page 84). With its simple plastic bracelets the eight-year-old firm helped popularise the craze for quantifying exercise and other habits, by making it easy for users to track and upload their information to an online dashboard.

In the first quarter of 2015 Fitbit sold around a third of the 11.4m wearable devices shipped worldwide (excluding Apple Watches, for which sales figures are not reported).

Unlike many fast-growing technology firms, Fitbit is profitable. In 2014 it had revenues of around $745m and net income of $132m. There has been so much demand from prospective investors that days before the IPO the company raised the selling price of its shares by around a third, to $20.

But Fitbit has an uphill run ahead. It faces growing competition from a wide array of competitors, including specialised firms like Garmin and Jawbone, and deep-pocketed ones like Apple and Samsung. The latter group have made expensive smart watches that replicate all the functions of Fitbit devices but do much more, such as messaging. Other firms, like Xiaomi of China, are intent on pushing prices lower. Today over 40% of wearable devices cost less than $100, below the prices of Fitbit’s fancier products.

Why the tech world is crazy about wearable technology

Meanwhile, in the past month Jawbone has filed two lawsuits alleging that Fitbit stole some of its employees and intellectual property; it is asking for an injunction to stop Fitbit sales. Such spats are common among makers of gadgets, but the cases pose a risk to Fitbit that investors should bear in mind.

A bigger danger is that wearables are too new for their mainstream appeal to be assured. Ben Arnold of NPD Group, which studies the industry, says it is not yet clear whether most fitness fans want to wear a monitor on their wrists rather than on their feet or in their clothes—or indeed at all. Nokia was early to the mobile-phone market and enjoyed a period of dominance, before its products were overtaken by multipurpose smartphones made by rivals.

Similarly, Fitbit could be remembered as an early pioneer of wearables that lost out to rivals with more versatile gadgets. In today’s bubbly market for tech shares, sceptics often ask if firms with no profits and scant revenues can really be worth so much. In Fitbit’s case, the vital signs are healthier, but the risks remain.

Source: The Economist
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Re: FitBit (FIT)

Postby winston » Mon Jun 22, 2015 7:45 pm

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How Does Fitbit Make Money? (NYSE: FIT)

By ALEX MCGUIRE

Source: Money Morning

http://moneymorning.com/2015/06/18/how- ... -nyse-fit/
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Re: FitBit (FIT)

Postby winston » Fri Jul 03, 2015 7:42 pm

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Best IPOs Q2: Fitbit (FIT)

IPO Price: $20
Return: 111%

Fitbit (FIT), which makes the highly popular fitness devices, showed that there is lots of investor interest in the wearables space.

Keep in mind that — ahead of the offering –the company aggressively boosted the price range and number of shares issued. For the most part, this is a pretty rare thing when it comes to an IPO.

But then again, Fitbit is not a typical company. Founded in 2007, the firm has gone on to sell more than 20.8 million devices. In fact, the market share is a whopping 85%.

This has translated into red-hot financials. After all, revenues soared from a mere $14.5 million in 2011 to $745.4 million in 2014. And last year, Fitbit even became profitable, registering net income of $131.8 million.

A key to the success has been a laser focus on innovation. For example, Fitbit devices help track things like steps, calories burned, distance traveled, floors climbed, sleep duration and heart rate. There is also seamless integration with smartphones powered by Apple (AAPL) or Google’s (GOOG, GOOGL) Android.

The good news is that Fitbit appears to still be in the early innings. Consider this: An IDC report indicates that, by 2018, there will be 114 million wearable devices shipped, with the revenues coming to a staggering $33.7 billion.

Source: Investor Place
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Re: FitBit (FIT)

Postby winston » Mon Jul 13, 2015 5:46 pm

Fitbit Stock Still a Buy Despite Big Post-IPO Surge

An IPO doubler is just the beginning for FIT stock

By Jeff Reeves

Source: Investor Place

http://investorplace.com/2015/07/fitbit ... aOIjNKqqko
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Re: FitBit (FIT)

Postby winston » Mon Jul 13, 2015 8:10 pm

Recent IPO Fitbit is up more than 40% since going public last month.
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Re: FitBit (FIT)

Postby winston » Mon Jul 20, 2015 6:59 pm

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Fitbit Stock: A Short-Term “FIT” for Your Portfolio

FIT is on track to rule the wearables market

By Charles Payne

Source: Smart Investing

http://investorplace.com/2015/07/fit-fi ... azSFtKqqko
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Re: FitBit (FIT)

Postby behappyalways » Fri Aug 07, 2015 9:35 am

Fitbit sees revenue more than triple to $400m
http://www.bbc.com/news/business-33798724
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Re: FitBit (FIT)

Postby winston » Fri Aug 07, 2015 5:32 pm

Fitbit (FIT) Stock: This Selloff Is Nonsensical — Buy the Dip!

When opportunity knocks, you let it in. Come on in, FIT stock!

By John Divine

Source: Investor Place

http://investorplace.com/2015/08/fitbit ... cR67dIirIU
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