Health Care

Brokerages Set Fitbit, Inc. (FIT) Price Target at $7.30

ValuEngine lifted shares of Fitbit from a "strong sell" recommendation to a "sell" recommendation in a study on Fri, Sep 15th. crowd sourced stock rating company Vetr lowered the stock of Fitbit from a "buy" recommendation to a "hold" recommendation and fixed a $6.72 price objective on the company a note on Wed, Sep 13th. The average investment recommendation on a scale of 1 to 5 (1 being a strong buy, 3 a hold, and 5 a sell) is 2.90, which implies that analysts are generally neutral in their outlook for FIT over the next year. Finally, Longbow Research reissued a "hold" rating on shares of Fitbit in a research report on Saturday, May 27th. The stock exchanged hands with 7,976,097 numbers of shares compared to its average daily volume of 7.07M shares.

Several brokerages recently weighed in on FIT. Research firm Zacks lifted stocks of Fitbit from a "hold" recommendation to a "buy" recommendation and fixed a $7.00 price objective on the company shares in a note on Tue, Sep 12th. Cowen and Company set a $6.00 price target on Fitbit and gave the stock a hold rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated an "outperform" rating and set a $8.00 price target on shares of Fitbit in a research report on Monday, June 26th. Zacks Investment Research now has $7.00 price objective on the scientific and technical instruments company's stock.

COPYRIGHT VIOLATION WARNING: "Jon Callaghan Sells 15,000 Shares of Fitbit, Inc".

Separately, Executive Vice President Andy Missan unloaded 5,000 stocks of Fitbit shares in a trade dated Fri, Aug 4th. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Joseph Murray unloaded 500,000 stocks of Fitbit shares in a trade dated Mon, Aug 7th. The 20-day RSI for FIT is 55.08%, which suggests that the stock is not particularly expensive or cheap, and not predisposed to a reactive price movement based on this measure. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business.

Tightening the gaze, stock performance for the last 5 trading days is 7.65%. Vanguard Group Inc. increased its position in shares of Fitbit by 13.9% during the second quarter. The company's market cap is $1.46 billion. Renaissance Technologies LLC lifted its stake in Fitbit by 193.6% in the second quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company's stock worth $117,000 after purchasing an additional 3,698 shares during the last quarter. State Street Corp now owns 3,330,776 shares of the scientific and technical instruments company's stock worth $17,686,000 after purchasing an additional 1,348,058 shares in the last quarter. Finally, Quinn Opportunity Partners LLC lifted its stake in Fitbit by 3.0% in the second quarter. In the case of FIT, the chart has some interesting things to say about where the stock might be headed. If you are viewing this piece of content on another site, it was illegally stolen and republished in violation of United States and worldwide trademark & copyright legislation. The legal version of this piece of content can be read at Raymond James Financial Services Advisors Inc. now owns 33,666 shares of the scientific and technical instruments company's stock worth $199,000 after purchasing an additional 4,271 shares during the last quarter. Fitbit, Inc. (FIT) has made its way to a 12-month decline of -61.74%. The fund held 1,840,311 stocks of the scientific and technical instruments firms shares after disposing 4,640 shares through out the period.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares.

Fitbit (NYSE:FIT) last issued its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.07. Its revenue totaled $341.57 million up 14.26% from the previous quarter. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. Fitbit's quarterly revenue was down 39.8% compared to the same quarter past year.

According to analysts Fitbit Inc (NYSE:FIT)'s minimum EPS for the current quarter is at $-0.07 and can go high up to $-0.02. The company's periodic earnings was down 39.8% on a YOY basis. on consensus, Financial experts predict that Fitbit, to post ($0.31) earnings per share for the financial year.

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