Fitbit, Inc. (FIT) Lowered to "Buy" at Vetr Inc

Barsaba Taglieri
Luglio 18, 2017

The firm presently has a $5.55 target price on the scientific and technical instruments company's stock.

Beta is also an important valuation ratio for analyzing the stock of the company, FIT has Beta of 0 while its industry and Sector's beta remains at 1.42 and 1.3 respectively. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $7.00 price objective on shares of Fitbit in a report on Thursday, May 4th. Zacks Investment Research cut Fitbit from a "buy" rating to a "hold" rating in a research note on Tuesday, May 9th. Dougherty & Co restated a "neutral" rating on shares of Fitbit in a research report on Monday, May 8th. Zacks Investment Research raised Fitbit from a hold rating to a buy rating and set a $7.00 price target for the company in a research report on Monday, May 8th.

In terms of Buy, Sell or Hold recommendations, Fitbit Inc (NYSE:FIT) has analysts' mean recommendation of 2.9.

The stock is now moving with a Negative distance from 200-Day Simple Moving Average of about -22.72% and has no so good Year to Date (YTD) Performance of -21.17% which means the stock is constantly adding to its value from previous fiscal year end price. The market capitalization of the company is at $1.3 Billion. The stock exchanged hands 4.71 Million shares versus average trading capacity of 6.97 Million shares, yielding a market cap of $1.3 Billion.

The stock Hit its 1-year high of $17.18 on 09/23/16 and its 1-year low price of $4.90 on 06/22/17.

Fitbit (NYSE:FIT) last released its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.25) by $0.10.

Management effectiveness shows return on equity and return on assets for the trailing twelve months at -17.57% and -8.11% respectively. The business had revenue of $298.94 million during the quarter, compared to analyst estimates of $277.48 million.

On average, analysts expect that Fitbit will report full-year sales of $340.56 million for the current financial year, with estimates ranging from $1.53 billion to $1.70 billion.

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Fitbit Inc. (FIT) has 232.89 Million shares outstanding and 122.67 Million shares were floated in market.

In other news, Director Jon Callaghan sold 15,000 shares of the business's stock in a transaction that occurred on Monday, July 3rd.

Now we look at the Moving Averages, the 200-day is -22.72, the 50-day is 5.76 and the 20-day is 9.95. Following the completion of the transaction, the executive vice president now owns 62,702 shares of the company's stock, valued at approximately $349,250.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley acquired 25,000 shares of the firm's stock in a transaction dated Monday, June 5th. The stock was purchased at an average price of $5.39 per share, with a total value of $134,750.00. Hamilton Lane Advisors LLC now owns 241,234 shares of the scientific and technical instruments company's stock worth $1,428,000 after buying an additional 37,961 shares during the last quarter. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 525,000 shares of company stock valued at $2,800,350.

Hedge funds and other institutional investors have recently bought and sold shares of the company. DnB Asset Management AS increased its position in Fitbit by 57.8% in the second quarter. The average volume of a stock suggests the liquidity of a particular company. Vanguard Group Inc. increased its position in Fitbit by 6.1% in the first quarter. Russell Investments Group Ltd. now owns 104,601 shares of the scientific and technical instruments company's stock worth $621,000 after buying an additional 103,035 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Fitbit during the first quarter valued at about $24,404,000. Amerigo Asset Management acquired a new position in Fitbit during the first quarter valued at $13,983,000.

Wall Street analysts expect Fitbit, Inc.

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