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6 Things To Know About Fitbit Before Earnings

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  • Fitbit Inc (NYSE: FIT) reports earnings Wednesday afternoon.
  • Stock fell 6.5% day on Tuesday as investors exit before report.
  • Fitbit beat last quarter's EPS/rev numbers, but cut guidance significantly. Stock fell 15% that day.
  • Trip Chowdhry is one analyst who hasn't been afraid to call Fitbit's bluff, telling Benzinga in the past that the company's IPO debut near $30/share was the absolute peak valuation for the company. Shares are now near $17/share.
  • Well-known issues at the company are inability to differentiate from competitors, peaking gross margins, worsening active user trends, competition from Apple Watch.
  • Investors may be underrating the company's Blaze device. Citigroup analyst checks in mid-April showed co. guidance may be too low and could be increased in future quarters.

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