The timing is "imperfect" for Fitbit to pursue a sale in the near future and management should be able to make the case to let its current strategy play out further, William Blair analyst Jeffrey Garro tells investors in a research note. Last Friday, various media reports broke the news that Fitbit has hired an investment bank, Qatalyst Partners, to explore a sale, the analyst points out. The company has a large, growing, and loyal active user base and has made positive strides in proving itself as a health and wellness differentiator, says Garro. However, the analyst does not have enough confidence that the board will find a right match for its valuation expectations, "if it gets that far in the near term." He sees the stock's risk/reward as balanced and keeps a Market Perform rating on Fitbit.