Fitbit Inc (NYSE:FIT), the leader in the connected health and fitness market, today announced the addition of Genuine Thermos® Brand to the growing list of products and popular apps that are part of the Works with Fitbit® program. Fitbit and Genuine Thermos Brand partnered to introduce the new Thermos Connected Hydration Bottle with Smart Lid to make it compatible with the Fitbit platform, letting consumers automatically track their water intake and integrate their hydration statistics into their Fitbit app so they can more easily meet their hydration goals to help maintain energy and overall health. Coming in November, the product will be available for purchase at Thermos.com, as well as select retailers, including Amazon and Target.
The Works with Fitbit program lets developers, brands and users seamlessly connect the Fitbit platform to popular health & wellness apps, services and hardware products, making it easier for consumers to achieve their wellness goals. Fitbit was the first company in the category to offer an open web API and has thousands of the most popular health & fitness apps, wellness programs and incentive systems, including FitStar®, MapMyFitness, MINDBODY Connect®, MyFitnessPal, Lose It!, Strava, Walgreens Balance® Rewards and Weight Watchers that connect to the Fitbit platform – as well as connected hardware products, such as the Stir Kinetic Desk and now the new Thermos Connected Hydration Bottle.
“As one of the fastest growing brands in health and fitness, we see tremendous opportunities to combine our #1 selling devices and software with best-in-class offerings from proven and trusted brands like Thermos,” said Tim Rosa, Vice President of Global Marketing at Fitbit. “The Works with Fitbit program is just one of the many ways we’re constantly evolving our offerings in order to empower developers, our partners and enhance our user experience with smarter, more automated, easy and fun ways for consumers to reach their health, fitness and lifestyle goals.”
Works with Fitbit aims to partner with brands that further its mission to help people lead healthier, more active lives by empowering them with data, inspiration and guidance to reach their goals. This includes partnership possibilities that facilitate health and wellness across such areas as:
- Exercise equipment: From treadmills to cycling, communication between exercise equipment and Fitbit devices has the potential to offer more advanced activity tracking and provide insights to help people achieve peak performance.
- Hospitality: Travelers with busy schedules might stick with their fitness program while away from home with help from hotels, cruise lines or airport lounges that partner with Fitbit to offer customized fitness tips, in-suite workouts, or challenges linked to theFitbit platform.
- Nutrition: Whether it’s points, calories, or just more fruits and veggies, Fitbit hopes to help individuals reach their nutrition goals and make it easier than ever with auto-logging calorie and nutrition data.
- Wellness: From auto-logging meditation to syncing with your sleep cycle, the Fitbit platform can help connect the dots from nutrition and activity to stress-reduction and proper rest, helping people see the path toward holistic health and wellness.
With broad mobile compatibility including more than 200 iOS, Android and Windows Phone devices, along with computers, Fitbithas the flexibility to partner with top brands no matter what platform they choose. Fitbit was the first connected health and fitness company to offer a completely open API, providing the community with the opportunity to create apps, products and services that integrate with the Fitbit platform. Today, thousands of companies are leveraging Fitbit’s open API. (Original Source)
Shares of Fitbit closed yesterday at $38.50. FIT has a 1-year high of $51.90 and a 1-year low of $29.50. The stock’s 50-day moving average is $36.21 and its 200-day moving average is $39.29.
On the ratings front, Fitbit has been the subject of a number of recent research reports. In a report released yesterday, Leerink Swann analyst Steven Wardell reiterated a Buy rating on FIT, with a price target of $79, which represents a potential upside of 105.2% from where the stock is currently trading. Separately, on October 19, Pacific Crest’s Brad Erickson reiterated a Buy rating on the stock and has a price target of $47.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Steven Wardell and Brad Erickson have a total average return of -0.8% and -2.3% respectively. Wardell has a success rate of 46.7% and is ranked #2671 out of 3795 analysts, while Erickson has a success rate of 60.9% and is ranked #2904.
The street is mostly Bullish on FIT stock. Out of 14 analysts who cover the stock, 10 suggest a Buy rating and 4 recommend to Hold the stock. The 12-month average price target assigned to the stock is $51.29, which implies an upside of 33% from current levels.
Fitbit Inc provides fitness tracking devices, wearable devices, and the health and fitness industry. It provides platform to combine connected health and fitness devices with software and services.