#6 - FitBit Inc. (NYSE:FIT)
FitBit Inc. (NYSE: FIT) - Along the lines of GoPro, FitBit created a product with technology that was, in some cases, already available, too easy to copy in other cases. Either way, the product was not as marketable as once thought, and it didn’t help matters that Apple’s iWatch became far more marketable than the company thought. Largely because while Apple was not first to market, they quickly became the recognized name. FitBit’s brand name should carry on well into 2019, but analysts don’t foresee the market for FitBit’s consumer electronics hardware wearables to increase and the company doesn’t have any plans to expand on its product line which leaves the only other path to growth a drastic cutting of expenses that would bring the company more in line with its anticipated size. The company reported a 15% decline in second-quarter sales and a negative free cash flow of $83 million. To make matters worse, the company is forecasting a 3% year-over-year revenue decline for Q3 with a negative free cash flow of $30 million and net income per share within a range of -$0.02 and $0.01.
About Fitbit
Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Inspire, Fitbit Inspire HR, and Fitbit Ace 2 activity trackers; Fitbit Ionic and Fitbit Versa family of smartwatches, as well as Fitbit Flyer wireless headphones and the Fitbit Aria family of connected scales; and accessories, such as bands and frames for its devices.
Read More - Current Price
- $6.93
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
