Fitbit: Alt Data Points to Weak Fundamentals
Summary:
Analyzing Eagle Edge web crawled data we show metrics for Fitbit tracker market share and pricing. ASP’s were weak in the quarter and share of bestsellers remains under pressure. Google search data for Fitbit has rolled over after showing some strength in early 2018.
Eagle Alpha Insight
Online retail metrics show a weak performance in Q3’18 and demand indicators are also in decline. Both sets of data paint a weak fundamental picture for Fitbit in coming quarters.
Fitbit is a technology company focused on delivering health solutions. The Fitbit platform combines wearable devices with software and services. The company's wearable devices, which include health and fitness trackers and smartwatches, enable its users to view data about their daily activity, exercise and sleep in real-time. The company's software and services, which include an online dashboard and mobile app, provide its users with data analytics, motivational and social tools, and virtual coaching through customized fitness plans and workouts. The company's platform also includes software that helps to encourage healthy behavior changes in three areas: activity, sleep, and nutrition.
Company Overview
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