Fitbit (NYSE:FIT)‘s stock had its “underperform” rating reaffirmed by analysts at Bank of America in a research note issued on Tuesday, The Fly reports.
A number of other equities analysts also recently issued reports on the stock. Citigroup reissued a “sell” rating and issued a $4.50 price target on shares of Fitbit in a research note on Tuesday. Stifel Nicolaus raised shares of Fitbit from a “sell” rating to a “hold” rating and decreased their target price for the company from $6.00 to $5.50 in a research note on Wednesday, January 31st. Roth Capital assumed coverage on shares of Fitbit in a research note on Friday, January 5th. They set a “buy” rating and a $10.00 target price for the company. Morgan Stanley set a $6.00 target price on shares of Fitbit and gave the company a “hold” rating in a research note on Friday, January 5th. Finally, Cleveland Research reaffirmed a “hold” rating on shares of Fitbit in a research note on Thursday, December 21st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.96.
Fitbit (NYSE:FIT) opened at $5.54 on Tuesday. Fitbit has a one year low of $4.90 and a one year high of $7.32. The stock has a market cap of $1,084.81, a PE ratio of -3.36 and a beta of 2.28.
Large investors have recently bought and sold shares of the company. Investors Research Corp purchased a new stake in shares of Fitbit during the fourth quarter valued at approximately $101,000. BB&T Securities LLC purchased a new stake in shares of Fitbit during the third quarter valued at approximately $116,000. Greenwich Wealth Management LLC grew its holdings in shares of Fitbit by 84.1% during the fourth quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company’s stock valued at $134,000 after buying an additional 10,700 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Fitbit during the fourth quarter valued at approximately $139,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Fitbit during the fourth quarter valued at approximately $140,000. Hedge funds and other institutional investors own 62.53% of the company’s stock.
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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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