Fitbit, Inc. (NYSE:FIT) Earns Hold Rating from Stifel Nicolaus

Evrard Martin
Juillet 18, 2017

Vetr's price target would indicate a potential downside of 2.97% from the stock's current price.

Other equities research analysts have also issued reports about the company.

Currently Fitbit Inc (NYSE:FIT)'s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 61.7%. (NYSE:FIT) from a strong-buy rating to a buy rating in a report issued on Monday, June 26th. SunTrust Banks, Inc. reiterated a "buy" rating and issued a $7.00 price objective on shares of Fitbit in a report on Friday, April 14th. Dougherty & Co reissued a "neutral" rating on shares of Fitbit in a research report on Monday, May 8th.

Additionally on 1/31/17 Citigroup "Downgrades" Fitbit Inc (NYSE:FIT) to Sell setting price target at $0 and on 12/08/16 Deutsche Bank "Downgrades" the stock to Hold at $9. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company's stock. (NYSE:FIT). At the time of writing, the First Call consensus price target for the company is $7.04.

Fitbit Inc. (FIT) jumped 1.41 percent and ended the day at $5.77.

The Stock traded with an actual day volume of 4.71 Million and average volume of 6.97 Million respectively.

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. The firm has a 50-day moving average of $5.37 and a 200-day moving average of $6.10. The market capitalization of the company is at $1.3 Billion.

Fitbit (NYSE:FIT) last released its quarterly earnings results on Wednesday, May 3rd. Fitbit had a negative return on equity of 14.57% and a negative net margin of 8.86%.

15 number of analysts have estimated the sales of the company for the quarter, analysts estimated mean sale target of 581.01 million while high and low sale targets are estimated at 715 million and 503.5 million respectively.

The company has mean EPS estimate of -0 reported by 18 number of analyst for the quarter ending Current Qtr.(Jun2017).

ILLEGAL ACTIVITY WARNING: "Fitbit, Inc".

To view Vetr's full report, visit Vetr's official website. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of USA and worldwide trademark and copyright laws. The original version of this news story can be accessed at https://www.thestockobserver.com/2017/07/18/fitbit-inc-nysefit-stock-rating-upgraded-by-vetr-inc.html. The stock was sold at an average price of $5.31, for a total value of $79,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley bought 25,000 shares of Fitbit stock in a transaction dated Monday, June 5th. The stock was bought at an average cost of $5.39 per share, with a total value of $134,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 525,000 shares of company stock valued at $2,800,350 in the last 90 days.

A number of large investors have recently modified their holdings of the company. Stoneridge Investment Partners LLC boosted its stake in shares of Fitbit by 719.4% in the first quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company's stock worth $86,832,000 after buying an additional 5,989,005 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD bought a new position in Fitbit during the first quarter worth approximately $24,404,000. Russell Investments Group Ltd. boosted its stake in shares of Fitbit by 6,579.5% in the first quarter. Russell Investments Group Ltd. now owns 104,601 shares of the scientific and technical instruments company's stock valued at $621,000 after buying an additional 103,035 shares during the last quarter. Allianz Asset Management AG bought a new stake in shares of Fitbit during the fourth quarter valued at $146,000. 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.

Fitbit Inc (NYSE:FIT) now has a trailing P/E of -7.28 while its forward P/E according to Thomson Reuters is -27.48.

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