Fitbit Inc (FIT) Has Strong Growth Catalysts

Fitbit Inc (NYSE:FIT) stock is losing value for the last three months but the company is getting ready to launch new products and analysts think that the new products and increasing partnerships will boost the stock value in the future. Fitbit will launch its much-awaited Ionic smart watch, which has the design of a classic smartwatch, while the product also packs some excellent health features. Fitbit is also partnering with famous brands like Adidas, and Microsoft to increase its market footprint.

The company recently signed a deal with NBA. Fitbit’s sensors and health tracking services are becoming attractive for doctors and medical practitioners in the US. Fitbit sales will experience a surge in the holiday season. Therefore, analysts believe that the stock is a good buy going into the last quarter of 2017.