Economy

Analyst Recommendations for: Fitbit Inc. (FIT)

Currently Fitbit Inc (NYSE:FIT)'s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 62.5%.

FIT has been the topic of several recent research reports. Baird now has a $6.00 price objective on the scientific and technical instruments company's stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FIT. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.

August 3 investment analysts at Deutsche Bank maintained a stock rating of "Hold" but lowered the price target to $5.50 from $9.00. The stock of Fitbit Inc (NYSE:FIT) has "Buy" rating given on Thursday, August 3 by Oppenheimer.

Price targets show what analysts believes a stock will be worth at the end of a certain time period.

Fitbit (NYSE:FIT) traded up 0.085% during mid-day trading on Wednesday, reaching $5.875. Of those analysts, 1 rate stock as a Strong Buy, 11 rate it as Hold, and just 1 analyst rates it as a Moderate Sell. The company now has a consensus rating of Hold and a consensus price target of $7.96. Fitbit's growth has been slowing down with smartwatches outshining the fitness wearable category, influx of new wearables, lack of upgrades among existing users and lackluster growth in the Asia Pacific region. The total amount of shares outstanding is 230.61 million, giving the company a market capitalization of about 1.35 billion. For the current year the company's revenue estimates are $1.62 Billion compared to low analyst estimates of $1.55 Billion and high estimates of $1.69 Billion according to 16 number of analysts. The company's 50-day moving average is $5.59 and its 200 day moving average is $5.61.

Fitbit (NYSE:FIT) last released its quarterly earnings data on Wednesday, August 2nd. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $341.24 million. Net profit margin of the company was recorded at -13.8 percent, operating profit margin was -17.1 percent, while gross profit margin stands at 36.7 percent. Oppenheimer & Co. Inc. now owns 40,063 shares of the scientific and technical instruments company's stock valued at $213,000 after acquiring an additional 4,150 shares during the last quarter. During the same quarter in the prior year, the firm posted $0.12 EPS. Analysts expect next quarter's EPS to be $-0.03 and the next full year EPS is anticipated to be $-0.18.

Insider Trading Activity for Fitbit, Inc. "(FIT) Given Neutral Rating at Robert W. Baird" was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2017/09/06/fitbit-inc-fit-given-neutral-rating-at-robert-w-baird.html.

In related news, Director Jon Callaghan sold 15,000 shares of the business's stock in a transaction dated Monday, July 3rd. The 50 day moving average was up $0.30 whereas the 200 day moving average was up $0.27 or +4.77%. (NYSE:FIT) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). Also, Director Steven Joseph Murray sold 500,000 shares of the business's stock in a transaction dated Monday, August 7th. Following the sale, the director now owns 11,442 shares of the company's stock, valued at approximately $65,562.66. The disclosure for this sale can be found here. HighTower Advisors LLC raised its position in Fitbit by 5.6% in the 2nd quarter. Insiders own 29.10% of the company's stock. Amalgamated Bank raised its position in Fitbit by 20.1% in the 2nd quarter.

If we look at the Volatility of the company, Week Volatility is 3.95%, whereas Month Volatility is at 4.62%. DnB Asset Management AS grew its holdings in Fitbit by 57.8% during the 2nd quarter. Finally, Symons Capital Management Inc. purchased a new stake in shares of Fitbit in the 2nd quarter valued at $429,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Fitbit by 14.5% during the 1st quarter. Janus Capital Management LLC trimmed its investment by shedding 58 shares a decrease of 0.4% in the quarter.



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