Fitbit's Newest Products Generating Extremely Positive Social Media Buzz
The latest data from TickerTags indicates that Fitbit Inc (NYSE: FIT) seems to have gotten it right with the launch of two brand new products in Q1. With the company set to release Q1 earnings on Thursday, social media buzz surrounding the Fitbit Blaze and the bracelet-like Fitbit Alta is overwhelmingly positive.
TickerTags monitors social media sites to identify trends by searching for words and phrases that appear together in social media content, such as tweets.
The Blaze is Fitbit’s first smartwatch and was unveiled at CES in January. The Alta launched in March and puts a more stylish spin on the wearable fitness device.
The sentiment of social media conversations about the Blaze and the Alta has been 95 percent positive so far. Conversations about Fitbit in general are 80 percent positive.
Fitbit shareholders have had a rough go of it so far in 2016. The stock is down 41.9 percent year-to-date as competition in the wearable device market has continued to heat up. If social media is any indication, the Alta and the Blaze may now have Fitbit back on the right track.
Analysts expect Fitbit to report Q1 EPS of $0.02 on revenue of $443.1 million on Wednesday.
Disclosure: the author holds no position in the stocks mentioned.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.