Fitbit, Inc. (NYSE:FIT) Upgraded to “Hold” by Vetr Inc.
Fitbit, Inc. (NYSE:FIT) was upgraded by equities researchers at Vetr from a “sell” rating to a “hold” rating in a report issued on Monday. The firm presently has a $5.55 target price on the scientific and technical instruments company’s stock. Vetr‘s target price suggests a potential downside of 2.97% from the stock’s current price.
A number of other analysts have also commented on FIT. Zacks Investment Research raised shares of Fitbit from a “sell” rating to a “hold” rating in a report on Saturday, April 1st. Longbow Research reaffirmed a “neutral” rating on shares of Fitbit in a report on Tuesday, April 4th. Dougherty & Co reaffirmed a “neutral” rating on shares of Fitbit in a report on Tuesday, April 4th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $7.00 target price on shares of Fitbit in a report on Friday, April 14th. Finally, Benchmark Co. initiated coverage on shares of Fitbit in a report on Tuesday, April 25th. They set a “buy” rating and a $10.00 target price for the company. Six research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.28.
Fitbit (NYSE:FIT) traded down 0.87% on Monday, hitting $5.72. The company had a trading volume of 5,088,508 shares. The stock’s market cap is $1.31 billion. Fitbit has a 12-month low of $4.90 and a 12-month high of $17.18. The firm’s 50 day moving average price is $5.37 and its 200 day moving average price is $6.10.
Fitbit (NYSE:FIT) last released its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $298.94 million during the quarter, compared to analyst estimates of $277.48 million. Equities analysts predict that Fitbit will post ($0.35) earnings per share for the current fiscal year.
In related news, Director Steven Joseph Murray sold 500,000 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.33, for a total value of $2,665,000.00. Following the sale, the director now directly owns 11,442 shares of the company’s stock, valued at approximately $60,985.86. The transaction was disclosed in a legal 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 on Monday, July 3rd. The shares were sold at an average price of $5.31, for a total transaction of $79,650.00. The disclosure for this sale can be found here. Insiders sold a total of 525,000 shares of company stock worth $2,800,350 over the last ninety days. 29.10% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Janus Capital Management LLC bought a new stake in Fitbit during the fourth quarter valued at approximately $104,000. Allianz Asset Management AG bought a new stake in Fitbit during the fourth quarter valued at approximately $146,000. Kissinger Financial Services LLC bought a new stake in Fitbit during the second quarter valued at approximately $153,000. Croft Leominster Inc. bought a new stake in Fitbit during the first quarter valued at approximately $166,000. Finally, HighTower Advisors LLC bought a new stake in Fitbit during the first quarter valued at approximately $185,000. 56.14% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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