Fitbit (NYSE: FIT) recently received a number of ratings updates from brokerages and research firms:

  • 9/19/2016 – Fitbit was upgraded by analysts at Longbow Research to a “buy” rating. They now have a $20.00 price target on the stock.
  • 9/15/2016 – Fitbit was given a new $20.00 price target on by analysts at Mizuho. They now have a “buy” rating on the stock.
  • 9/4/2016 – Fitbit had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $20.00 price target on the stock.
  • 9/1/2016 – Fitbit had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $24.00 price target on the stock.
  • 8/31/2016 – Fitbit had its “neutral” rating reaffirmed by analysts at Piper Jaffray Cos.. They now have a $14.00 price target on the stock.
  • 8/31/2016 – Fitbit had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $18.00 price target on the stock.
  • 8/31/2016 – Fitbit had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $31.00 price target on the stock.
  • 8/31/2016 – Fitbit had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $25.00 price target on the stock.
  • 8/30/2016 – Fitbit had its “market perform” rating reaffirmed by analysts at Leerink Swann. They now have a $16.00 price target on the stock.
  • 8/30/2016 – Fitbit had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $24.00 price target on the stock.
  • 8/23/2016 – Fitbit was given a new $20.00 price target on by analysts at Longbow Research. They now have a “buy” rating on the stock.
  • 8/17/2016 – Fitbit had its “neutral” rating reaffirmed by analysts at Dougherty & Co.
  • 8/14/2016 – Fitbit had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $25.00 price target on the stock.
  • 8/9/2016 – Fitbit was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $17.63 price target on the stock.
  • 8/5/2016 – Fitbit is now covered by analysts at TheStreet. They set a “sell” rating on the stock.
  • 8/5/2016 – Fitbit was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Fitbit Inc. is a manufacturer of wearable fitness tracking devices. The company reported better-than-expected second quarter 2016 results with revenues and earnings surpassing our estimates. Going forward, new products, features and services, increased brand awareness, expanded global distribution and presence in the corporate wellness market will continue to be the growth drivers. However, growing competition and increased popularity of smart watches will remain the headwinds.”
  • 8/3/2016 – Fitbit had its price target raised by analysts at Deutsche Bank AG from $28.00 to $29.00. They now have a “buy” rating on the stock.
  • 8/3/2016 – Fitbit had its price target lowered by analysts at Morgan Stanley from $32.00 to $31.00. They now have an “overweight” rating on the stock.
  • 8/3/2016 – Fitbit had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $24.00 price target on the stock, down previously from $29.00.
  • 8/3/2016 – Fitbit had its “buy” rating reaffirmed by analysts at Longbow Research. They now have a $20.00 price target on the stock.
  • 8/3/2016 – Fitbit had its “buy” rating reaffirmed by analysts at SunTrust Banks Inc.. They now have a $17.00 price target on the stock.
  • 8/3/2016 – Fitbit had its price target lowered by analysts at Leerink Swann from $18.00 to $16.00. They now have a “market perform” rating on the stock.
  • 8/3/2016 – Fitbit had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $20.00 price target on the stock.
  • 8/3/2016 – Fitbit was given a new $20.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
  • 8/3/2016 – Fitbit was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $16.51 price target on the stock.
  • 8/1/2016 – Fitbit had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $18.00 price target on the stock.
  • 7/26/2016 – Fitbit was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Fitbit Inc. is a manufacturer of wearable fitness tracking devices. Estimates have been going down ahead of the company’s second quaretr earnings release. The company has positive record of earnings surprises in recent quarter. Going forward, new products, features and services, increased brand awareness, expanded global distribution and presence in the corporate wellness market will continue to be the growth drivers. However, growing competition and increased popularity of smart watches will remain the headwinds. “
  • 7/26/2016 – Fitbit had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $16.00 price target on the stock.

Shares of Fitbit Inc. (NYSE:FIT) opened at 15.94 on Wednesday. The firm has a market cap of $3.54 billion, a PE ratio of 33.63 and a beta of 3.30. Fitbit Inc. has a 52 week low of $11.65 and a 52 week high of $41.97. The firm has a 50-day moving average of $15.06 and a 200-day moving average of $14.53.

Fitbit (NYSE:FIT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The company earned $586.50 million during the quarter, compared to analyst estimates of $578.48 million. Fitbit had a net margin of 5.76% and a return on equity of 14.55%. Fitbit’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, analysts expect that Fitbit Inc. will post $1.18 EPS for the current year.

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In other news, Director Steven Joseph Murray sold 848,088 shares of Fitbit stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $15.14, for a total value of $12,840,052.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Andy Missan sold 10,000 shares of Fitbit stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $12.35, for a total transaction of $123,500.00. Following the completion of the sale, the executive vice president now owns 45,000 shares of the company’s stock, valued at approximately $555,750. The disclosure for this sale can be found here. 37.29% of the stock is currently owned by insiders.

Fitbit, Inc is a provider of health and fitness devices. 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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