FIT - Fitbit, Inc.

NYSE - NYSE Delayed price. Currency in USD
6.81
+0.10 (+1.49%)
At close: 4:00PM EDT
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Previous close6.71
Open6.81
Bid6.76 x 4000
Ask6.81 x 27000
Day's range6.61 - 6.84
52-week range2.81 - 7.26
Volume14,929,780
Avg. volume5,955,812
Market cap1.818B
Beta (5Y monthly)1.00
PE ratio (TTM)N/A
EPS (TTM)-0.86
Earnings date29 Jul 2020 - 03 Aug 2020
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est7.35
  • Google’s Fitbit deal could avoid EU antitrust probe by agreeing not to use health data for ads
    TechCrunch

    Google’s Fitbit deal could avoid EU antitrust probe by agreeing not to use health data for ads

    Google announced its plans to acquire Fitbit for $2.1 billion back in November. As of this writing, the deal has yet to go through, courtesy of all the usual regulatory scrutiny that occurs any time one large company buys another. Citing “people familiar with the matter,” Reuters notes that Google may be facing down some scrutiny in the form of an EU antitrust investigation if it doesn’t make some concessions.

  • The best gadgets for the beach and pool: Tech Support
    Yahoo Finance

    The best gadgets for the beach and pool: Tech Support

    Heading to the beach or pool? These are the best headphones, ereaders, and more to bring with you.

  • Google Might Need to Make Sacrifices to Close Fitbit Deal
    Motley Fool

    Google Might Need to Make Sacrifices to Close Fitbit Deal

    European regulators are reportedly looking for concessions before approving the $2.1 billion acquisition.

  • Report: Alphabet Must Offer Concessions for Fitbit Acquisition to Win EU Approval
    Motley Fool

    Report: Alphabet Must Offer Concessions for Fitbit Acquisition to Win EU Approval

    The European Union (EU) expects concessions before its regulator allows Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL) unit Google to acquire Fitbit (NYSE: FIT). According to a report from Reuters citing "people familiar with the matter," the U.S. tech giant will have to give up something in order for the deal to clear the European Commission's (EC) antitrust review process. One possible solution is that Google concretely promises that it will not misuse Fitbit user data by culling it to target advertising, the article's sources said.

  • Google has way to dodge EU Fitbit probe - sources
    Reuters Videos

    Google has way to dodge EU Fitbit probe - sources

    Google can avoid an EU probe of its planned takeover of Fitbit. Reuters sources say Brussels would be satisfied with a pledge not to use Fitbit’s health data to target ads. The 2.1 billion dollar bid was announced last November. It would allow Google to take on Apple, Samsung and others in the fitness tracking and smartwatch market. But the plan has drawn heavy criticism from privacy advocates. They worry what Google would do with access to Fitbit’s trove of personal health data. Concerns too about competition. The European Commission is examining whether the takeover would cement Google’s dominance of online advertising. Sources say it’s set to trigger a four-month probe of the deal if Google doesn’t offer concessions by Monday (July 13). But they say the search giant could avert that by offering a binding pledge not to use health data for advertising. Google has dismissed all the concerns. It says the deal is about devices, not data, and will only boost competition. The smart wearables market is currently dominated by Apple, which has an almost 30 percent market share.

  • What You Need to Know About Fitbit
    Motley Fool

    What You Need to Know About Fitbit

    Fitbit (NYSE: FIT) is a household name in the fitness market thanks to its simple but effective exercise-activity trackers. With a roster of products including smart watches and wristband activity trackers, Fitbit's offerings record health metrics including heart rate, distance travelled, and steps walked. Most of Fitbit's activity trackers cost between $100 and $175; the company's most recent tracker, the Fitbit Charge 4, cost $149 upon its release in March.

  • Groups warn against Google's purchase of Fitbit
    Reuters Videos

    Groups warn against Google's purchase of Fitbit

    Be wary - the warning from twenty advocacy groups over Google's $2.1 billion bid for fitness tracker firm Fitbit. The groups from the U.S., Europe and Latin America among others signed a statement on Wednesday (July 1). They're worried about privacy and competition issues. The 20 organisations - which include U.S.-based Public Citizen, Access Now from Europe and the Brazilian Institute of Consumer Defense - say the deal would expand the already considerable clout in digital markets of Alphabet's Google. They added that acquiring Fitbit would give Google intimate information about users, such as how many steps they take daily, the quality of their sleep and their heart rates. The statement added that "regulators must assume that Google will in practice utilize the entirety of Fitbit’s unique, highly sensitive data set in combination with its own." A Google spokesperson said the tech wearables space was crowded and that the deal is "about devices, not data." Fitbit's market share has been threatened by deep-pocketed companies like Apple and Samsung. EU antitrust regulators will decide by July 20th whether to clear the deal with or without concessions, or open a longer investigation. In Washington, Google is under antitrust investigation for allegedly using its massive market power to harm smaller competitors.

  • Do You Really Want Google to Have Your Personal Fitness Data?
    Bloomberg

    Do You Really Want Google to Have Your Personal Fitness Data?

    (Bloomberg Opinion) -- If you’re concerned about the pervasive role in daily life of technology companies such as Alphabet Inc.’s Google, then its planned $2.1 billion acquisition of Fitbit Inc. is a worry.Google already owns the biggest search engine, the most popular video-streaming site (YouTube), the biggest mobile operating system (Android) and the dominant e-mail service (Gmail). All of these feed a digital-advertising business that generated $135 billion of sales last year. Do we really want to add Fitbit’s fitness tracking to its armory?A coalition of 20 organizations on Thursday urged antitrust authorities in the European Union, the U.S. and five other jurisdictions to scrutinize the takeover more closely. The EU plans to rule on the deal by July 20, although it may extend the probe if needed.The problem is that Google’s dominance in one market — digital advertising — isn’t necessarily enough, from an antitrust perspective, to block a deal in another sector. Google doesn’t currently make a health tracker or smartwatch. As such, it doesn’t compete with Fitbit. It isn’t trying to consolidate the market or cut the number of rivals. Indeed, a better capitalized Fitbit might improve competition in a smartwatch market dominated by Apple Inc.But this deal isn’t really about hardware sales: Fitbit’s $1 billion in expected 2020 revenue would represent just 0.7% of Alphabet’s total. The value from the acquisition is in the data that Fitbit is accumulating on all of its users. Knowing how far, how often and where people walk, run, cycle or swim every day could help advertisers, health insurers, city planners and plenty more besides. While Google is unlikely to sell that information directly to advertisers, it would help it build more complete advertising profiles of its users. In that sense, the fitness tracker market isn’t discrete from Google’s dominant ad-tech business. It could feed it, extending its dominance.With that in mind, regulators could impose restrictions while still clearing the deal. Aitor Ortiz, a Bloomberg Intelligence analyst, expects behavioral remedies will be imposed. That could mean Google promising not to merge Fitbit data with other user info without explicit consent. The tech giant takes a similar approach with Nest, a home automation company it acquired in 2014. Last year, it started encouraging users to merge their Nest data with their Google accounts.For those alarmed about Alphabet hoarding even more of our personal data, these promises probably won’t be enough. A stronger remedy would be to prohibit Google from ever extracting fitness information from a user’s devices. That’s how Apple treats fitness data from its Watch. Google insists that it wants Fitbit anyway, even without being able to farm its data. If that’s true, then it shouldn’t have any complaint about such a restriction. The purchase would still give it an entree to the smartwatch market, which will grow to $96 billion by 2027, according to Allied Market Research.Fitbit’s products also need to keep working with Apple’s mobile operating system as well as with Android. Otherwise, they would become a tool to force people to buy Android devices.This is an important test case that will be hard for regulators to get right. Past attempts at imposing behavioral remedies on the tech giants have failed: Facebook Inc. told Brussels back in 2014 that it wasn’t technically possible to merge its data with those of WhatsApp, but then it went ahead and did it anyway, accepting a paltry 110 million-euro ($124 million) fine from the European Commission for breaking its agreement. Google tends to be better behaved than Facebook, but its deep pockets give it a lot of power.Given the risks, the easiest solution might just be to block the Fitbit deal outright. But that would be legally harder to justify.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Alex Webb is a Bloomberg Opinion columnist covering Europe's technology, media and communications industries. He previously covered Apple and other technology companies for Bloomberg News in San Francisco.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Financial Times

    EU signals deeper investigation of Google Fitbit deal

    The EU is examining whether Google’s proposed $2.1bn takeover of the fitness-tracking company Fitbit will give the company more data to entrench its search engine and advertising businesses, as consumer groups called for the deal to be blocked. EU regulators have sent two questionnaires, adding up to around 60 pages, asking Google and Fitbit’s rivals whether the deal will damage competition, disadvantage other fitness tracking apps in Google’s Play Store, or give Google more profiling data to improve its online search and advertising businesses. The questionnaires also ask rivals to assess the impact of the deal on Google’s growing digital healthcare business.

  • Tech Players Consolidate Healthcare Presence, Apple Takes Lead
    Zacks

    Tech Players Consolidate Healthcare Presence, Apple Takes Lead

    The healthcare space is witnessing increasing proliferation of wearables and fitness trackers offered by Apple (AAPL), Fitbit, Garmin and others.

  • Wearable Tech: The World's New Bet to Tackle Coronavirus?
    Zacks

    Wearable Tech: The World's New Bet to Tackle Coronavirus?

    Wearable devices are being installed for surveillance to detect potential coronavirus cases. These body-worn devices can also be used to track social distancing and quarantine implementation.

  • Fitbit Introduces Ready for Work Solution to Help Employers Manage Workplace Health and Safety During the COVID-19 Pandemic
    Business Wire

    Fitbit Introduces Ready for Work Solution to Help Employers Manage Workplace Health and Safety During the COVID-19 Pandemic

    Fitbit (NYSE: FIT) today announced a new Ready for Work solution to help employers with the unprecedented challenge of returning to the workplace during the COVID-19 pandemic. Fitbit’s Ready for Work solution gives employees access to key health metrics from their Fitbit device along with exposure, symptom and temperature logging, all within an easy-to-use Daily Check-In feature that provides employees with guidance on whether to go into the workplace. Daily reporting and analytics enable employers to quickly assess and monitor workplace health and safety and provide support for employees. The solution is available through Fitbit Health Solutions and aims to help employees and employers combat workplace spread of COVID-19 and return to work safely, confidently, and in good health.

  • Fitbit Unveils Emergency Ventilator Amid Coronavirus Crisis
    Zacks

    Fitbit Unveils Emergency Ventilator Amid Coronavirus Crisis

    Fitbit (FIT) launches a low-cost ventilator to meet the growing need for medical devices during the COVID-19 crisis.

  • Fitbit (FIT) Down 7.6% Since Last Earnings Report: Can It Rebound?
    Zacks

    Fitbit (FIT) Down 7.6% Since Last Earnings Report: Can It Rebound?

    Fitbit (FIT) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Daily Crunch: Snapchat says it won't promote Trump
    TechCrunch

    Daily Crunch: Snapchat says it won't promote Trump

    Snapchat is the latest social media company to take on the president, Fitbit gets approval for its emergency ventilator and we review the new Sonos soundbar. Snap announced that it will not be promoting content from President Donald Trump’s Snapchat account in its Discover tab, following statements from Trump last week on Twitter threatening that protestors could be met with “vicious dogs” and “ominous weapons.”

  • Fitbit Unveils Inexpensive COVID-19 Ventilator
    Motley Fool

    Fitbit Unveils Inexpensive COVID-19 Ventilator

    The maker of health tracking devices which is being acquired by Alphabet's Google got special approval to make the emergency ventilator.

  • Fitbit gains FDA authorization for its low-cost emergency ventilator
    TechCrunch

    Fitbit gains FDA authorization for its low-cost emergency ventilator

    Fitbit has secured an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its Fitbit Flow emergency ventilator. The ventilator hardware is low-cost, and doesn't require very much training or expertise to use, making it a good solution for deployment in scenarios where healthcare systems are overwhelmed by resource strain stemming from the COVID-19 pandemic. The Fitbit ventilator is based on the MIT E-Vent system, as well as specs provided by the UK government for ventilators to be used by hospitals in that country during the ongoing coronavirus outbreak.

  • Fitbit Introduces Fitbit Flow, a Low-Cost Emergency Ventilator, to Help Address Urgent Global Needs During COVID-19 Crisis
    Business Wire

    Fitbit Introduces Fitbit Flow, a Low-Cost Emergency Ventilator, to Help Address Urgent Global Needs During COVID-19 Crisis

    Fitbit (NYSE: FIT) today announced it has developed a high-quality, low-cost, easy-to-use emergency ventilator, Fitbit Flow, which has obtained Emergency Use Authorization (EUA) from the U.S. Food & Drug Administration (FDA) for use during the COVID-19 public health emergency.

  • Fitbit launches a COVID-19 early detection study, and you can join from the Fitbit app
    TechCrunch

    Fitbit launches a COVID-19 early detection study, and you can join from the Fitbit app

    Fitbit's activity-tracking wearable devices are already being used by a number of academic institutions to determine if they might be able to contribute to the early detection of COVID-19 and the flu, and now Fitbit itself is launching its own dedicated Fitbit COVID-19 Study, which users can sign up for from within their Fitbit mobile app. In order to gather the data needed to see if they can do this, Fitbit is asking users in either the U.S. or Canada who have either had or currently have a confirmed case of COVID-19, or flu-like symptoms that might be an indicator of an undiagnosed case, to answer some questions in order to contribute to its research. Early detection could also have advantages in terms of treatment, allowing health practitioners to intervene earlier and potentially prevent the worst of the symptoms of the infection.

  • European Consumer Group Bashes Google-Fitbit Deal
    Motley Fool

    European Consumer Group Bashes Google-Fitbit Deal

    It's been over six months since Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) proposed its $2.1 billion acquisition of wearables maker Fitbit (NYSE: FIT). The deal has attracted criticism and underscored ongoing antitrust scrutiny of large powerful tech companies. Earlier this year, the European Data Protection Board (EDPB) argued that the acquisition would represent "a high level of risk" to consumer data.

  • European Consumer Group Questions Alphabet's Fitbit Buy
    Motley Fool

    European Consumer Group Questions Alphabet's Fitbit Buy

    The BEUC argued by acquiring Fitbit, Google will have an "unparalleled position" in a bevy of markets.

  • Lyft's (LYFT) Q1 Loss Narrower Than Expected, Revenues Beat
    Zacks

    Lyft's (LYFT) Q1 Loss Narrower Than Expected, Revenues Beat

    Despite the coronavirus impact, Lyft's (LYFT) top line grew 23% in Q1 on arise in Active Riders and Revenue per Active Rider.

  • The top apps for working out at home: Tech Support
    Yahoo Finance

    The top apps for working out at home: Tech Support

    Looking to lose weight or stay in shape while stuck in your house? These at-home workout apps can help.

  • Fitbit (FIT) Q1 Loss Wider Than Estimated, Revenues Lag
    Zacks

    Fitbit (FIT) Q1 Loss Wider Than Estimated, Revenues Lag

    Fitbit (FIT) reports weak first-quarter results, with both earnings and revenues missing the Zacks Consensus Estimate.

  • Fitbit (FIT) Reports Q1 Loss, Misses Revenue Estimates
    Zacks

    Fitbit (FIT) Reports Q1 Loss, Misses Revenue Estimates

    Fitbit (FIT) delivered earnings and revenue surprises of -9.09% and -30.31%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?