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Fitbit schedules 4Q17 report ?3
Fitbit has scheduled
its fourth quarter report to occur after market close on February
26th. The average of analyst estimates for the company comes to a
loss of 1 cent per share on $588M in revenue. As with most
consumer products, the fourth quarter accounts for most sales, so
current quarter revenue estimates are for $339M.
It's worth noting that Mobile World Congress begins the same day. So we should expect lots of product announcements.
I've seen medical partnerships and investment
from Fitbit, but they mostly amount to device discounts and hopes
at diversification. The health-care space has drawn a lot of business
interest lately, which may ultimately provide Fitbit with a
lifeline, but I'm not eager to take such chances at this point.
Consequently, I concede that FIT looks more interesting below $5
and will cover the call. Even so, it would take something pretty
surprising to draw a bullish call from me anywhere near that
price. There are many complexities
to working in the real world, and my sense is that Fitbit has
barely begun to assay them properly.