Analysts expect that Fitbit, Inc. (NYSE:FIT) will post ($0.22) earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have provided estimates for Fitbit’s earnings. The lowest EPS estimate is ($0.23) and the highest is ($0.20). Fitbit posted earnings of $0.07 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 414.3%. The business is expected to report its next earnings report on Tuesday, August 1st.

On average, analysts expect that Fitbit will report full-year earnings of ($0.59) per share for the current financial year, with EPS estimates ranging from ($0.65) to ($0.50). For the next financial year, analysts forecast that the business will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.65) to ($0.13). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Fitbit.

Fitbit (NYSE:FIT) last announced its quarterly earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.10. Fitbit had a negative net margin of 8.86% and a negative return on equity of 14.57%. The business had revenue of $298.94 million for the quarter, compared to analyst estimates of $277.48 million.

Several research firms have recently weighed in on FIT. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $7.00 target price on shares of Fitbit in a research note on Friday, April 14th. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, May 8th. Dougherty & Co reiterated a “neutral” rating on shares of Fitbit in a research report on Monday, May 8th. ValuEngine upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $8.00 target price on shares of Fitbit in a research report on Monday, June 26th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. Fitbit presently has an average rating of “Hold” and an average price target of $8.30.

In other Fitbit news, EVP Andy Missan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $5.57, for a total value of $55,700.00. Following the completion of the transaction, the executive vice president now directly owns 62,702 shares of the company’s stock, valued at $349,250.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $5.31, for a total value of $79,650.00. The disclosure for this sale can be found here. Insiders have sold 525,000 shares of company stock valued at $2,800,350 in the last ninety days. Corporate insiders own 29.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kissinger Financial Services LLC acquired a new stake in Fitbit during the second quarter worth approximately $153,000. DnB Asset Management AS boosted its stake in shares of Fitbit by 57.8% in the second quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company’s stock valued at $86,832,000 after buying an additional 5,989,005 shares during the last quarter. UBS Oconnor LLC purchased a new stake in shares of Fitbit during the first quarter valued at approximately $1,480,000. HighTower Advisors LLC purchased a new stake in shares of Fitbit during the first quarter valued at approximately $185,000. Finally, Credit Suisse AG boosted its stake in shares of Fitbit by 150.3% in the first quarter. Credit Suisse AG now owns 473,673 shares of the scientific and technical instruments company’s stock valued at $2,804,000 after buying an additional 284,410 shares during the last quarter. 52.65% of the stock is owned by institutional investors.

Shares of Fitbit (NYSE FIT) traded up 0.19% on Tuesday, reaching $5.24. 4,664,025 shares of the company were exchanged. Fitbit has a 12-month low of $4.90 and a 12-month high of $17.18. The company’s 50 day moving average is $5.37 and its 200 day moving average is $6.10. The firm’s market capitalization is $1.20 billion.

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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.

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