Fitbit Inc. (NYSE:FIT)‘s stock had its “hold” rating reaffirmed by equities research analysts at Dougherty & Co in a research note issued to investors on Monday.
A number of other analysts have also issued reports on FIT. Vetr lowered shares of Fitbit from a “strong-buy” rating to a “buy” rating and set a $16.51 price target on the stock. in a research note on Wednesday, August 3rd. Mizuho restated a “buy” rating and set a $20.00 target price on shares of Fitbit in a research note on Wednesday, August 3rd. Pacific Crest restated a “hold” rating on shares of Fitbit in a research note on Wednesday, June 22nd. Morgan Stanley restated an “overweight” rating and set a $31.00 target price on shares of Fitbit in a research note on Wednesday, August 31st. Finally, Zacks Investment Research lowered shares of Fitbit from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Fitbit presently has an average rating of “Buy” and a consensus price target of $22.11.
Shares of Fitbit (NYSE:FIT) traded up 0.1085% during midday trading on Monday, hitting $14.8561. 4,209,852 shares of the stock traded hands. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 31.3420 and a beta of 3.29. Fitbit has a 12-month low of $11.65 and a 12-month high of $41.97. The company’s 50 day moving average price is $15.32 and its 200-day moving average price is $14.66.
Fitbit (NYSE:FIT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $586.50 million for 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%. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, equities research analysts expect that Fitbit will post $1.18 EPS for the current year.
In related news, EVP Andy Missan sold 10,000 shares of Fitbit stock in a transaction dated Wednesday, July 6th. The stock was 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 in the company, valued at approximately $555,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven Joseph Murray sold 848,088 shares of Fitbit stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $15.14, for a total value of $12,840,052.32. The disclosure for this sale can be found here. 37.29% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Fitbit by 14.4% in the first quarter. BlackRock Inc. now owns 208,340 shares of the company’s stock worth $3,157,000 after buying an additional 26,192 shares in the last quarter. BlackRock Group LTD boosted its stake in Fitbit by 230.0% in the first quarter. BlackRock Group LTD now owns 1,354,236 shares of the company’s stock worth $20,518,000 after buying an additional 943,827 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Fitbit by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,591,754 shares of the company’s stock worth $24,115,000 after buying an additional 7,022 shares in the last quarter. BlackRock Japan Co. Ltd boosted its stake in Fitbit by 27.5% in the first quarter. BlackRock Japan Co. Ltd now owns 66,618 shares of the company’s stock worth $1,009,000 after buying an additional 14,376 shares in the last quarter. Finally, Columbia Partners L L C Investment Management bought a new stake in Fitbit during the first quarter worth approximately $5,015,000. Hedge funds and other institutional investors own 55.41% of the company’s stock.
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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