Fitbit Inc (FIT) Given Average Rating of "Hold" by Analysts

Rodiano Bonacci
Febbraio 23, 2018

However out of 9 analysts 1 suggest Fitbit Inc (NYSE:FIT) a Strong Buy, 2 suggested Buy, 8 Hold and 1 Sell, while 1 analysts recommend the stock a Strong Sell. The average twelve-month target price among analysts that have updated their coverage on the stock in the past year is $6.85. The company now has a consensus rating of "Hold" and an average price target of $7.06.

Fitbit, Inc. (FIT) is an interesting player in the Technology space, with a focus on Scientific & Technical Instruments. The rating was downgraded by Stifel Nicolaus on Friday, December 15 to "Sell". Cleveland Research reiterated a "hold" rating on shares of Fitbit in a research note on Thursday, December 21st. Morgan Stanley set a $6.00 target price on shares of Fitbit and gave the stock a "hold" rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Robert W. Baird has "Neutral" rating and $16 target.

Fitbit Inc (NYSE:FIT) has grabbed attention from the analysts, when it saw a value decrease of -3.88% or -0.21 points in the last trading session to close at $5.2. The company's stock had a trading volume of 4,538,344 shares, compared to its average volume of 5,587,990. Fitbit has a 52 week low of $4.90 and a 52 week high of $7.32. The stock has a market capitalization of $1.27 Billion however its outstanding shares are 234.19 Million. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Andy Missan sold 5,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $5.91, for a total transaction of $88,650.00. Following the completion of the sale, the executive vice president now owns 125,127 shares in the company, valued at $646,906.59. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock valued at $357,750 in the last quarter.

Several large investors have recently added to or reduced their stakes in FIT. Fitbit Inc (NYSE:FIT)'s price to free cash flow for trailing twelve months is 0. American International Group Inc. raised its position in Fitbit by 8.1% in the 3rd quarter. Allianz Asset Management GmbH grew its holdings in Fitbit by 11.7% during the 4th quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company's stock valued at $117,000 after purchasing an additional 3,698 shares during the last quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company's stock valued at $134,000 after purchasing an additional 10,700 shares during the last quarter. Hedge funds and other institutional investors own 62.53% of the company's stock.

ILLEGAL ACTIVITY NOTICE: "Stifel Nicolaus Upgrades Fitbit (FIT) to Hold" was posted by StockNewsTimes and is owned by of StockNewsTimes.

While having a peek at profitability ratios Fitbit Inc (NYSE:FIT) has trailing twelve month gross margin at 35.1%, its trailing twelve month operating margin stands at -22.7% whereas its trailing twelve month net profit margin spots at -23.4%. The Company's platform combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights and virtual coaching through customized fitness plans and interactive workouts.

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