Featured Stock: Fitbit Inc. (FIT)

Fitbit Inc. on 6/29/2017 reported its EPS as $0.19 with the analysts projecting the EPS of the stock as $0.19. Wedbush now has a "Neutral" rating and a $6.50 target price on the stock. 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 15 number of analysts.

Fitbit (NYSE:FIT) last issued its quarterly earnings results on Wednesday, November 1st. Earnings, with 15 analysts believing the company would generate an Average Estimate of $-0.04. The firm had revenue of $392.50 million during the quarter, compared to the consensus estimate of $391.70 million. In contrast to the year ago quarter EPS was at 0. The firm's quarterly revenue was down 22.1% compared to the same quarter past year. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of U.S. & global trademark and copyright legislation.

Fitbit, a provider of health and fitness devices.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Fitbit from a "hold" rating to a "buy" rating and set a $7.00 target price for the company in a research note on Tuesday, September 12th. Cowen and Company reduced their price target on shares of Fitbit from $18.00 to $9.00 and set a "market perform" rating for the company in a research report on Thursday, November 3rd. Dougherty & Co restated a "neutral" rating on shares of Fitbit in a report on Wednesday, October 4th.

Shares of Fitbit, Inc. The scale runs from 1 to 5 with 1 recommending Strong Buy and 5 recommending a Strong Sell. The stock now has a consensus rating of "Hold" and a consensus target price of $15.75.

This article was originally published by and is the sole property of American Banking News. Fortaleza Asset Management Inc. acquired a new stake in shares of Fitbit during the third quarter worth $154,000.

The stock has Return on Assets (ROA) of -10.7 percent. Diligent Investors LLC now owns 35,718 shares of the company's stock worth $436,000 after buying an additional 2,190 shares in the last quarter. Kissinger Financial Services LLC purchased a new position in Fitbit during the 2nd quarter valued at about $153,000. Principal Financial Group Inc. bought a new position in Fitbit during the 2nd quarter valued at $114,000. KS increased its position in Fitbit by 46.7% in the second quarter. Hedge funds and other institutional investors own 56.23% of the company's stock. Northern Trust Corp now owns 1,946,325 shares of the scientific and technical instruments company's stock worth $10,335,000 after buying an additional 1,279,330 shares during the period. The shares were sold at an average price of $14.60, for a total transaction of $146,000.00. Following the transaction, the executive vice president now owns 110,133 shares in the company, valued at approximately $770,931. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Insider Trades for Fitbit Inc. show that the latest trade was made on 31 Oct 2017 where Callaghan Jonathan D, the Director completed a transaction type "Sell" in which 15000 shares were traded at a price of $6.29. The shares were sold at an average price of $6.89, for a total value of $103,350.00. The disclosure for this purchase can be found here. Its book value per share for the most recent quarter is $4.02 while its price to book ratio for the same period is 1.51, as for as the company's cash per share for the most recent quarter is $2.93, however its price to cash per share ratio for the same period is 2.07. It offers various fitness devices, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Flex 2, Fitbit Charge, Fitbit Charge 2, Fitbit Blaze, Fitbit Charge HR, Fitbit Surge, Fitbit Accessories and Aria.

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