Company Update (NYSE:FIT): Fitbit Inc Bolsters Health and Fitness Platform with New Interactive Software Tools


Fitbit Inc (NYSE:FIT) enhancing its health and fitness platform to deliver more personalized insights, smarter guidance and more motivation with new interactive features in the Fitbit app and Fitstar Personal Trainer app, and updates to Fitbit Blaze.

These features include a more engaging social experience through a new Community section and tailored insights with Personal Goal Setting in the Fitbit app; more personalized guidance with a new Fitstar Personal Trainer app; and advanced health and fitness features coming to Fitbit Blaze.

“In order to help drive true behavior change, you have to make health fun, engaging and meaningful. For nearly 10 years, we have been the leader in the connected health and fitness category because we have consistently delivered innovative products, software and services that work together to create an engaging experience our users love and can’t live without,” said James Park, co-founder and CEO of Fitbit. “With these latest advancements, we’re delivering even more ways to interact with your social network and provide a smarter, more tailored experience, transforming the personal value of Fitbit devices from beloved fitness trackers to an integral part of your life.”

New Social Experience
With more than 54 million devices sold and as the number one health and fitness app, Fitbit has created one of the largest fitness social networks in the world.

  • Over the past year, Fitbit saw a 98% increase in the number of users who have at least one friend on the Fitbit platform with overall Fitbit users averaging more than six friends.
  • Fitbit data also shows that having support from friends and family helps users move more, with those who have one or more friends taking 700 more steps per day on average than users without friends on the platform.

As a result, Fitbit has designed a more engaging social experience with a new Community section in the Fitbit app that offers more ways to connect with others. Fitbit Community consists of:

  • Feed is a new social feature that provides an engaging way to connect with friends, family and groups of like-minded individuals.
  • Friends easily connects users to friends, family and other Fitbit users across the globe in scopes of both encouragement as well as competition.
  • Groups lets users discover and join communities of like-minded people, with over 20 groups related to fitness, nutrition, wellness and weight loss.

Personalized Guidance
Fitbit is introducing an updated Fitstar Personal Trainer app experience that delivers personalized, adaptive video-based exercise routines that can be done by anyone, whether at home or on the go, and are customized to the users’s fitness level and evolve as the user progresses. The Fitbit app is also becoming more intelligent with a new Personal Goal Setting feature that uses insights from the user’s own activity to help set reachable goals.

  • Fitstar Personal Trainer offers a completely redesigned app experience that delivers greater customization and motivation.
  • Personal Goal Setting in the Fitbit app provides a step-by-step guided process to help create achievable goals based on insights from data and health and fitness objectives.

New Tools Enhance the Health and Fitness Power of Fitbit Blaze
Fitbit is extending two powerful health and fitness features to Fitbit Blaze that are powered by PurePulse continuous wrist-based heart rate tracking. Cardio Fitness Level and Relax guided breathing sessions first appeared on Fitbit Charge 2, the #1 fitness tracker in the U.S., and allow users to take an even more active role in their health and wellness. With this software update, Blaze is also receiving three new clock faces to give more ways to personalize the user’s tracker.

  • Cardio Fitness Level provides a snapshot of cardiovascular fitness. Based on estimated VO2 Max – calculated by user profile, heart rate and exercise data – a user can see how your fitness level relates to others of the same age and gender, and get guidance on how to improve over time.
  • Relax guided breathing sessions help calm body and mind through two- and five-minute sessions personalized to the user’s breathing rate to gain the benefits of a guided breathing practice, which research shows can reduce stress and anxiety, and lower blood pressure.

Availability

  • Updated Fitstar Personal Trainer is available globally today on Android phones, iOS devices and online
  • Community will be available to Fitbit app users in the U.S. in March 2017 and globally later this year
  • Personal Goal Setting will be available to all existing Fitbit app users globally in January 2017
  • New features for Fitbit Blaze will be available globally in February 2017 (Original Source)

Shares of Fitbit are currently trading at $8.02, down $0.09 or -1.05%. FIT has a 1-year high of $23.28 and a 1-year low of $7.20. The stock’s 50-day moving average is $7.99 and its 200-day moving average is $12.38.

On the ratings front, Fitbit has been the subject of a number of recent research reports. In a report issued on December 27, CFRA analyst Scott Kessler reiterated a Hold rating on FIT. Separately, on December 22, Citigroup’s Stanley Kovler maintained a Hold rating on the stock and has a price target of $8.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Scott Kessler and Stanley Kovler have a yearly average return of 8.7% and 4.2% respectively. Kessler has a success rate of 73% and is ranked #495 out of 4369 analysts, while Kovler has a success rate of 60% and is ranked #1660.

Sentiment on the street is mostly neutral on FIT stock. Out of 21 analysts who cover the stock, 18 suggest a Hold rating , 2 suggest a Buy and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $10.20, which implies an upside of 26% from current levels.

Fitbit, Inc. engages in the development of wearable device which tracks data of an individual’s health. It offers products which can track a person’s activities, such as calories burned, sleep quality, steps, and distance. The data collected allows an individual to monitor their progress towards their own personal goals.