Fitbit (FIT) Search Trends Decelerating - Dougherty & Co

Dougherty and Company analyst, Charles Anderson, noted that search and app download trends have decelerated over the past two weeks for Fitbit (NYSE: FIT)products. Google searches for the Fitbit brand last week were up 34% YOY globally; up 16% YOY in the U.S.; and up 112% YOY in the U.K. All except the U.K. represented a deceleration from two weeks ago (Global: 42%; U.S.: 22%: U.K: 91%). The Fitbit app moved up the charts 10% YOY on iPhones in the U.S. and 45% YOY on Android smartphones in the U.S. last week. That marked in-line performance on iOS vs. two weeks ago but a deceleration on Android devices.

No change to Neutral rating.

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 $14.32 yesterday.

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