Dougherty & Co Data Shows Garmin (GRMN) Taking Share from Fitbit (FIT)
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Dougherty & Company published a Mobile Computing Flash note with charts indicating the search patterns for various mobile computing vendors. Google searches for the Fitbit (NYSE; FIT) brand last week were up 89% YOY globally; up 77% YOY in the U.S.; and up 177% YOY in the U.K. However, analyst Charles Anderson noted the global market share of Google searches for activity tracker brands showed a distinct decrease for Fitbit and a corresponding increase for Garmin (NASDAQ: GRMN). A tremendous gap still separates the two and the firm points out that the shift is likely due to Garmin product announcements.
For an analyst ratings summary and ratings history on Fitbit click here. For more ratings news on Fitbit click here.
Shares of Fitbit closed at $37.46 yesterday.
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