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FitBit (FIT) Analysis Ahead of Q4 Earnings

FitBit $FIT is scheduled to announce its financial results for the holiday shopping quarter of 2015 in February. The exact date is not yet set, but the word on the street is estimating it to be in the middle of the month. The coming report is highly anticipated due to the large recent drop in its share price which it contrary to the current growth of the wearables and health tracking market.

Search Volume

By analyzing the latest search volume and trend on Google we can see that the interest in FitBit has had a steady increase since early November. The search volume increased significantly in relation to Black Friday, Cyber Monday, and Christmas.

App Downloads

We have also taken a look on how the FitBit app is performing in large countries in the two major app markets. As with search volume, we can see that the app downloads has experienced a steady increase since late November. On December 25th, the FitBit app was the number 1 download in the iOS app store in both the U.S and Canada. FitBit’s app has performed well in the Google Play store as well. On December 26th the app was the eight most popular download in Canada, and tenth most popular download in the U.S

iOS

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Android

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Technical Analysis

Technicals show that with an entry price of $16.50 and a beat, the stock could go to $24. This represents an upside potential of 45%. On the flip side, with an entry price of  $16.50 and a miss,  the stock could go down to $14. This represents a downside potential of 15%. Risk/Reward ratio in this case equals 3.

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Eirik Nordgaard

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I am a swing/momentum trader, and trade mostly tech and consumer trend stocks. Currently, I am studying for an MBA in Finance. I am an entrepreneur and DYI investor seeking financial wealth on my own premises.

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