Fitbit Inc (NYSE:FIT)‘s stock had its “hold” rating reiterated by stock analysts at Longbow Research in a research report issued to clients and investors on Saturday.

A number of other research firms have also issued reports on FIT. Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a report on Monday, May 8th. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $9.00 target price on shares of Fitbit in a report on Monday, May 8th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $8.00 target price on shares of Fitbit in a report on Monday, February 27th. Deutsche Bank AG dropped their target price on Fitbit from $9.00 to $6.00 and set a “hold” rating on the stock in a report on Monday, January 30th. Finally, Zacks Investment Research lowered Fitbit from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.21.

Analyst Recommendations for Fitbit (NYSE:FIT)

Fitbit (NYSE:FIT) traded down 1.48% during midday trading on Friday, reaching $5.31. The company’s stock had a trading volume of 6,423,503 shares. The stock’s 50 day moving average is $5.73 and its 200 day moving average is $6.66. Fitbit has a 12-month low of $5.28 and a 12-month high of $17.18. The stock’s market cap is $1.21 billion.

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, beating the Zacks’ consensus estimate of ($0.25) by $0.10. The business had revenue of $298.94 million for the quarter, compared to analyst estimates of $277.48 million. Fitbit had a return on equity of 11.94% and a net margin of 4.67%. Analysts anticipate that Fitbit will post ($0.35) earnings per share for the current year.

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In other news, Director Steven Joseph Murray sold 173,152 shares of the company’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $6.00, for a total value of $1,038,912.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andy Missan sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $5.91, for a total value of $295,500.00. Following the completion of the sale, the executive vice president now owns 105,000 shares in the company, valued at $620,550. The disclosure for this sale can be found here. 37.29% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC increased its stake in shares of Fitbit by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 36,211 shares of the scientific and technical instruments company’s stock valued at $266,000 after buying an additional 2,264 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Fitbit by 0.9% in the third quarter. California State Teachers Retirement System now owns 270,143 shares of the scientific and technical instruments company’s stock valued at $4,009,000 after buying an additional 2,500 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Fitbit by 14.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 33,666 shares of the scientific and technical instruments company’s stock valued at $199,000 after buying an additional 4,271 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Fitbit by 5.8% in the first quarter. UBS Asset Management Americas Inc. now owns 86,177 shares of the scientific and technical instruments company’s stock valued at $510,000 after buying an additional 4,732 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Fitbit by 18.3% in the first quarter. Oppenheimer & Co. Inc. now owns 35,913 shares of the scientific and technical instruments company’s stock valued at $213,000 after buying an additional 5,550 shares in the last quarter. Institutional investors and hedge funds own 65.31% of the company’s stock.

Fitbit Company Profile

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.

12 Month Chart for NYSE:FIT

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