Fitbit Inc. (NYSE:FIT) has earned a consensus rating of “Hold” from the twenty-six analysts that are presently covering the firm. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $21.78.
A number of research analysts have weighed in on the company. Pacific Crest downgraded Fitbit from a “sector weight” rating to an “underweight” rating and raised their price target for the company from $15.88 to $16.70 in a research note on Thursday, September 29th. Mizuho set a $20.00 price target on Fitbit and gave the company a “buy” rating in a research note on Thursday, September 15th. Zacks Investment Research downgraded Fitbit from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Vetr upgraded Fitbit from a “buy” rating to a “strong-buy” rating and set a $17.63 price target for the company in a research note on Tuesday, August 9th. Finally, Longbow Research upgraded Fitbit to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, September 19th.
Fitbit (NYSE:FIT) opened at 13.10 on Wednesday. The stock’s 50 day moving average price is $15.08 and its 200-day moving average price is $14.63. Fitbit has a one year low of $11.65 and a one year high of $41.97. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 27.64 and a beta of 3.29.
Fitbit (NYSE:FIT) last announced its earnings results on Tuesday, August 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Fitbit had a return on equity of 14.55% and a net margin of 5.76%. The business had revenue of $586.50 million for the quarter, compared to analyst estimates of $578.48 million. During the same quarter last year, the firm earned $0.21 EPS. Fitbit’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, equities research analysts expect that Fitbit will post $1.18 EPS for the current fiscal year.
In other news, EVP Andy Missan sold 10,000 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $14.60, for a total transaction of $146,000.00. Following the completion of the transaction, the executive vice president now owns 45,000 shares of the company’s stock, valued at approximately $657,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.84, for a total value of $222,600.00. The disclosure for this sale can be found here. Insiders own 37.29% of the company’s stock.
Several institutional investors have recently bought and sold shares of FIT. Metropolitan Life Insurance Co. NY raised its stake in shares of Fitbit by 233.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,420 shares of the company’s stock worth $103,000 after buying an additional 5,898 shares in the last quarter. Commonwealth Equity Services Inc purchased a new stake in shares of Fitbit during the second quarter worth $129,000. Legal & General Group Plc raised its stake in shares of Fitbit by 71.1% in the second quarter. Legal & General Group Plc now owns 10,967 shares of the company’s stock worth $134,000 after buying an additional 4,558 shares in the last quarter. Greenwich Wealth Management LLC purchased a new stake in shares of Fitbit during the second quarter worth $135,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Fitbit during the second quarter worth $140,000. 55.41% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Fitbit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fitbit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.