Fitbit: Ionic Lifts Q4 But Concerns for 2018 Outlook
Summary:
Analyzing web-crawled data we show estimates of Fitbit’s market share increased by 3ppts and average selling price increased significantly during Q4’17. Google search data has flattened, but there has been no upside momentum despite the launch of the Ionic, indicating weakening demand.
Eagle Alpha Insight
Our data supports current market expectations for Q4’17 YoY revenue growth. However, end demand appears to be soft and could pressure sales in 2018.
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.
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