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FIT

Fitbit

$5.36

-0.1199 (-2.19%)

14:28
04/13/17
04/13
14:28
04/13/17
14:28

Fitbit smartwatch runs into 'challenges' with app store plans, The Verge says

In addition to hardware and production missteps recently reported by Yahoo Finance, Fitbit's new smartwatch is also facing "challenges" building out a third-party app store, The Verge reported late Wednesday, citing sources. The watch's planned app store is "unlikely" to be ready at launch, the sources said, adding that Fitbit will instead launch the device with "some custom-made apps." Fitbit is currently working to entice app partners to build these apps, but could resort to internal development, the report says. The Verge also "confirmed" that the watch is slated for a delayed, fall launch. Separately, one of The Verge's sources said Fitbit's Bluetooth headphones have had an easier production path, and are not expected to include activity tracking or heart sensors in their first iteration. The report also adds that Fitbit has considered developing a product aimed at elderly individuals, though its fate is now unknown after the departure of a lead executive on the project. Reference Link

  • 08

    Jun

FIT Fitbit
$5.36

-0.1199 (-2.19%)

01/31/17
01/31/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Macy's (M) downgraded to Neutral from Buy at Buckingham with the firm lowering its price target to $30 from $39 to reflect the lack of visibility on its ability to re-accelerate comparative sales, overwhelming pressure from online and off-price competition, and its inability to continue to reduce expenses sufficiently to offset EBITDA declines over the next few years. 2. Fitbit (FIT) downgraded to Sell from Neutral at Citi with analyst Stanley Kovler citing the company's negative preliminary fourth quarter announcement and 2017 outlook that came in "significantly below" expectations. Market saturation is having a real effect on the company's results, and management "demonstrated a clear lack of visibility" into its distribution network, Kovler tells investors in a research note. The analyst cut his price target for the shares to $5 from $8. 3. Under Armour (UA, UAA) downgraded to Underperform from Market Perform at Raymond James, to Neutral from Positive at Susquehanna, and to Neutral from Overweight at Piper Jaffray. 4. Ixia (XXIA) was downgraded to Neutral from Buy at DA Davidson and to Hold from Buy at Gabelli. 5. Ocera Therapeutics (OCRX) downgraded to Market Perform at JMP Securities with analyst Liisa Bayko citing Phase 2 data which showed that the company's hepatic encephalopathy treatment missed its primary endpoint. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/23/17
RAJA
02/23/17
NO CHANGE
Target $9
RAJA
Outperform
Fitbit demand trends better than numbers suggest, says Raymond James
Raymond James analyst Tavis McCourt said Fitbit reported results that were generally inline with the prerelease in guidance issued in January. McCourt said Fitbit indicated Q4 sell through in dollar terms was flattish, much better than the reported 19% revenue decline due to the company entering the quarter with meaningfully more channel inventory than the year ago period. The analyst expects sell through trends to weaken a bit this spring as the company laps its Alta/Blaze launches from a year ago, but by the end of 1H17, channel inventory should be corrected. McCourt said Fitbit's valuation is too inexpensive given the company's brand strength and upcoming products and maintains his Outperform rating and a $9 price target.
04/03/17
LBOW
04/03/17
NO CHANGE
LBOW
Neutral
Fitbit Q2 favorable guidance event unlikely, says Longbow
Longbow analyst Joe Wittine continues to rate Fitbit a Neutral and does not believe a favorable Q2 guidance event is likely, since excess channel inventory of Flex 2, Blaze, and ALta should drive 1H volatility. Wittine sees an attractive risk/reward trade developing on Fitbit's smartwatch launch and discounted valuation but recommends "staying patient" until more concrete product specs are available.
04/11/17
RHCO
04/11/17
NO CHANGE
Target $7
RHCO
Hold
SunTrust says reported smartwatch delay could add to Fitbit troubles
Responding to a Yahoo Finance report claiming that Fitbit (FIT) has delayed its new smartwatch after several production missteps, SunTrust's Kunal Madhukar said the delay could compound the company's "challenges." The analyst explains that the stock's weakness today is likely because any delay would mean missing the "seasonally stronger" Q2 holiday/shopping events, and because a fall launch may coincide with Apple's (AAPL) next watch. Madhukar adds that competition from Android smartwatches is "getting stronger," adding that Fitbit's core fitness tracker business faces challenges that include market saturation, competition at the high end, and commoditized products at the low end. The analyst maintains a Hold rating and $7 price target on the stock while conceding that it could potentially re-rate if visibility improves.

TODAY'S FREE FLY STORIES

BURL

Burlington Stores

$104.94

-1.61 (-1.51%)

07:55
11/22/17
11/22
07:55
11/22/17
07:55
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Burlington Stores analyst commentary  »

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WYNN

Wynn Resorts

$158.57

1.61 (1.03%)

, MLCO

Melco Resorts & Entertainment

$26.31

0.13 (0.50%)

07:54
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11/22
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07:54
Recommendations
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WYNN

Wynn Resorts

$158.57

1.61 (1.03%)

MLCO

Melco Resorts & Entertainment

$26.31

0.13 (0.50%)

LVS

Las Vegas Sands

$67.79

0.71 (1.06%)

MGM

MGM Resorts

$33.34

0.16 (0.48%)

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GES

Guess

$17.95

0.17 (0.96%)

07:53
11/22/17
11/22
07:53
11/22/17
07:53
Technical Analysis
Technical View: Guess drops sharply after results and guidance »

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UIS

Unisys

$7.55

0.25 (3.42%)

07:53
11/22/17
11/22
07:53
11/22/17
07:53
Hot Stocks
Unisys selected by New Zealand Ministry of Education for resourcing system »

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  • 14

    Dec

QADA

QAD Inc.

$39.95

1.75 (4.58%)

07:51
11/22/17
11/22
07:51
11/22/17
07:51
Recommendations
QAD Inc. analyst commentary  »

QAD Inc. price target…

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CYTK

Cytokinetics

$8.25

-2.85 (-25.68%)

07:48
11/22/17
11/22
07:48
11/22/17
07:48
Downgrade
Cytokinetics rating change  »

Cytokinetics downgraded…

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CRM

Salesforce

$108.80

1.43 (1.33%)

07:46
11/22/17
11/22
07:46
11/22/17
07:46
Recommendations
Salesforce analyst commentary  »

Salesforce price target…

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  • 27

    Nov

07:45
11/22/17
11/22
07:45
11/22/17
07:45
General news
U.S. MBA mortgage market index rose 0.1% »

U.S. MBA mortgage market…

CYTK

Cytokinetics

$8.25

-2.85 (-25.68%)

07:43
11/22/17
11/22
07:43
11/22/17
07:43
Recommendations
Cytokinetics analyst commentary  »

Cytokinetics price target…

03/08/13
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03/08/13
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03/06/13
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DE

Deere

$139.23

2.31 (1.69%)

07:43
11/22/17
11/22
07:43
11/22/17
07:43
Technical Analysis
Technical View: Deere at new 52-week high after results beat expectations »

The stock was last at…

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  • 22

    Nov

  • 28

    Nov

CRM

Salesforce

$108.80

1.43 (1.33%)

07:42
11/22/17
11/22
07:42
11/22/17
07:42
Recommendations
Salesforce analyst commentary  »

Salesforce price target…

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  • 27

    Nov

07:40
11/22/17
11/22
07:40
11/22/17
07:40
General news
Treasury Market Outlook: longer dated bond yields are modestly higher »

Treasury Market Outlook:…

AXTA

Axalta Coating

$33.87

0.33 (0.98%)

07:39
11/22/17
11/22
07:39
11/22/17
07:39
Technical Analysis
Technical View: Axalta Coating up on Nippon Paint takeover talks »

The company earlier…

03/08/13
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03/08/13
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CRM

Salesforce

$108.80

1.44 (1.34%)

07:39
11/22/17
11/22
07:39
11/22/17
07:39
Recommendations
Salesforce analyst commentary  »

Canaccord has 'no…

03/08/13
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03/06/13
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03/06/13
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  • 27

    Nov

OSUR

OraSure

$16.55

2.59 (18.55%)

07:36
11/22/17
11/22
07:36
11/22/17
07:36
Recommendations
OraSure analyst commentary  »

OraSure contract win…

03/08/13
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03/06/13
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GME

GameStop

$16.73

0.29 (1.76%)

07:35
11/22/17
11/22
07:35
11/22/17
07:35
Technical Analysis
Technical View: GameStop trades higher after earnings and outlook »

The stock was last up…

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03/06/13
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NUAN

Nuance

$14.67

0.15 (1.03%)

07:35
11/22/17
11/22
07:35
11/22/17
07:35
Recommendations
Nuance analyst commentary  »

In-line guidance likely…

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  • 28

    Nov

AAPL

Apple

$173.14

3.16 (1.86%)

, BAC

Bank of America

$26.73

-0.01 (-0.04%)

07:35
11/22/17
11/22
07:35
11/22/17
07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

AAPL

Apple

$173.14

3.16 (1.86%)

BAC

Bank of America

$26.73

-0.01 (-0.04%)

MU

Micron

$49.40

1.76 (3.69%)

T

AT&T

$34.33

-0.31 (-0.89%)

ORCL

Oracle

$48.63

-0.39 (-0.80%)

AKS

AK Steel

$4.85

0.22 (4.75%)

PG

Procter & Gamble

$88.72

0.45 (0.51%)

TRIP

TripAdvisor

$32.81

2.33 (7.64%)

PEP

PepsiCo

$116.05

1.14 (0.99%)

PAGP

Plains GP Holdings

$20.48

-0.41 (-1.96%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 27

    Nov

  • 29

    Nov

  • 19

    Dec

EKSO

Ekso Bionics

$4.13

1.21 (41.44%)

07:33
11/22/17
11/22
07:33
11/22/17
07:33
Technical Analysis
Technical View: Ekso Bionics trades sharply higher, edging 52-week high »

The stock was last up…

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NTNX

Nutanix

$30.20

0.5 (1.68%)

07:32
11/22/17
11/22
07:32
11/22/17
07:32
Initiation
Nutanix initiated  »

Nutanix initiated with a…

03/08/13
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  • 30

    Nov

  • 07

    Dec

  • 12

    Dec

HPE

HP Enterprise

$14.12

0.03 (0.21%)

07:32
11/22/17
11/22
07:32
11/22/17
07:32
Recommendations
HP Enterprise analyst commentary  »

HP Enterprise CEO…

03/08/13
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  • 27

    Nov

  • 11

    Dec

GE

General Electric

$17.83

-0.15 (-0.83%)

, DKS

Dick's Sporting

$28.58

-0.52 (-1.79%)

07:30
11/22/17
11/22
07:30
11/22/17
07:30
Options
Unusual put flow in option market yesterday »

Notable put activity was…

GE

General Electric

$17.83

-0.15 (-0.83%)

DKS

Dick's Sporting

$28.58

-0.52 (-1.79%)

ROST

Ross Stores

$72.67

-0.07 (-0.10%)

ILG

ILG

$28.11

-0.5 (-1.75%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 29

    Nov

  • 30

    Nov

  • 01

    Dec

  • 12

    Dec

DLTR

Dollar Tree

$99.46

2.35 (2.42%)

07:29
11/22/17
11/22
07:29
11/22/17
07:29
Recommendations
Dollar Tree analyst commentary  »

Dollar Tree price target…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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07:28
11/22/17
11/22
07:28
11/22/17
07:28
General news
Futures above fair value ahead of holiday »

Stock futures are…

SHOO

Steven Madden

$39.80

-0.6 (-1.49%)

07:28
11/22/17
11/22
07:28
11/22/17
07:28
Conference/Events
Steven Madden management to meet with Buckingham »

Meeting to be held in New…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Nov

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