Fitbit's weak profit forecast clouds healthy holiday beat
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Mizuho Securities Cuts Price Target on Fitbit (FIT) as Product Transition Weighs on 1Q Guide
February 23, 2016 8:11 AM ESTMizuho Securities maintained a Buy rating on Fitbit (NYSE: FIT), and cut the price target to $20.00 (from $38.00), following the company's 4Q earnings report. FIT reported 4Q EPS of $0.35 vs. the Streets $0.25 estimate. Also, despite strong pre-order data from the new Blaze and Alta that... More
Weak FitBit (FIT) Guidance Increases Product Launch Importance - Dougherty
February 23, 2016 8:03 AM ESTDougherty & Co analyst, Charles Anderson, is trying to see the forest instead of the weak 1Q tree that represents FitBit's (NYSE: FIT) weak near term guidance. Full year guidance is ahead of expectations despite 1Q being far weaker. This puts a high dependence on new product adoption which makes channel checks in 2Q all the more important. No change to Neutral rating.
Fitbit beat on both the top and bottom lines in Q415. Revenue and EPS of $712MM/ $0.35 was ahead... More
