Today’s Research Reports on Stocks to Watch: Fitbit and Groupon

NEW YORK, NY / ACCESSWIRE / February 28, 2018 / Shares of Fitbit sank this week after reporting a fourth quarter report that disappointed Wall Street. The company hit a new 52-week low on Monday. Shares of Groupon had a modest rise despite any news. It was earlier in the month that the company reported its own fourth quarter results that were mixed.

RDI Initiates Coverage on:

Fitbit, Inc.
https://rdinvesting.com/report/?ticker=FIT

Groupon, Inc.
https://rdinvesting.com/report/?ticker=GRPN

Fitbit’s shares were plummeting in Tuesday trading and closed the day down 12.27% on nearly 38.5 million shares traded. The wearable fitness product company hit a new 52-week low of $4.67 after reporting earnings that missed both the top and bottom line on Monday. The stock had already sank 13% in after-hours trading after releasing its report. For the quarter, Fitbit reported a loss of 2 cents. Analysts had expected the company to break even. Revenue at $571 million was also significantly lower than the $588 million that was expected by analysts. Looking ahead, Fitbit also warned that its numbers will continue to fall and that revenue is expected to drop 15 to 20% compared to the year ago quarter. Fitbit has cited “consumer demand shifting towards smartwatches” for its decline. Despite the stock falling and the warning, Analyst Andrew Uerkwitz of Oppenheimer reiterated an “outperform” rating on the stock with a price target of $8. He wrote in a note to clients, “With reactivations, cash being essentially flat, and recent digital health acquisitions, we remain ever the optimists.” In the last twelve months, shares of the company have dropped 21%.

Access RDI’s Fitbit, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=FIT

Groupon’s shares closed down a modest 0.69% yesterday on about 14.6 million shares traded. There was no particular news from the company yesterday but earlier in the month the deal saving company reported its fourth quarter results that were mixed. Shares had fallen 9% after the report. Groupon reported non-GAAP earnings of 7 cents a share, while analysts were hoping for a couple of cents more. Revenue at $873.2 million was however higher than expectations at $861 million, but still represented a loss of 3.5% YOY. Chief Executive Rich Williams commented, “2017 was an important year for Groupon, highlighted by tangible progress in building our voucher-less future and accelerated innovation on behalf of customers and small businesses across our local marketplace. More importantly, we did so while retaining the strategic focus and operational excellence that have now delivered five consecutive strong quarters in our first ever year of GAAP profitability.”

Access RDI’s Groupon, Inc. Research Report at:
https://rdinvesting.com/report/?ticker=GRPN

Our Actionable Research on Fitbit, Inc. (NYSE: FIT) and Groupon, Inc. (NASDAQ: GRPN) can be downloaded free of charge at Research Driven Investing.

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