Fitbit, Inc. (FIT) Analysts Suggest $6.5-$10 Share Levels

05 Novembre, 2018, 18:21 | Auteur: Yves Courtet

Investment analysts at William Blair cut their Q4 2018 earnings per share (EPS) estimates for Fitbit in a research note issued on Wednesday, October 31st.

EPS in next five year years is expected to touch 1% while EPS growth in past 5 year was 0% along with sales growth of 0.841% in the last five years. Finally, William Blair reaffirmed a "market perform" rating on shares of Fitbit in a research note on Friday, September 21st.

A number of other research firms have also recently commented on FIT. Stifel Nicolaus increased their price target on shares of Fitbit from $5.50 to $6.00 and gave the stock a "hold" rating in a report on Thursday, August 2nd. Robert W. Baird reissued a "hold" rating and set a $6.00 price target on shares of Fitbit in a report on Thursday, August 2nd.

Morgan Stanley set a $4.00 price objective on Fitbit (NYSE:FIT) in a research report report published on Thursday. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. This short time frame picture represents a downward movement of current price over average price of last 20 days.

FIT opened at $6.10 on Monday. On Thursday, August 2 the stock of Fitbit, Inc.

Fitbit (NYSE:FIT) posted its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05, Briefing.com reports. Revenue for the recent quarter stood at $393.58 million, down 0% on previous year and above the $381.21 million predicted by analysts. Compared to others, Fitbit, Inc.is in a different league with regards to profitability, having net margins of -19.7%. However the company reported $-0.02 earnings per share for the same quarter during a year ago. Xact Kapitalforvaltning AB boosted its position in shares of Fitbit by 69.7% during the first quarter.

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For FIT stock, the reported Earnings Per Share trailing twelve months is sitting at -114.10%. DNB Asset Management AS increased its holdings in shares of Fitbit by 24.4% during the 3rd quarter. Private Advisor Group LLC now owns 25,392 shares of the scientific and technical instruments company's stock worth $136,000 after acquiring an additional 9,562 shares during the last quarter. Russell Investments Group Ltd. now owns 118,894 shares of the scientific and technical instruments company's stock worth $606,000 after buying an additional 12,500 shares in the last quarter. Rhumbline Advisers now owns 208,891 shares of the scientific and technical instruments company's stock worth $1,364,000 after buying an additional 16,600 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Fitbit by 11.2% during the 2nd quarter. Swiss National Bank now owns 339,800 shares of the scientific and technical instruments company's stock valued at $2,219,000 after purchasing an additional 34,300 shares in the last quarter. Also, EVP Andy Missan sold 10,000 shares of the business's stock in a transaction dated Thursday, August 16th.

The stock price volatility remained at 6.35 in recent month and reaches at 8.79 for the week. Following the completion of the transaction, the director now directly owns 42,332 shares of the company's stock, valued at approximately $263,305.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Market capitalization refers to the total dollar market value of a company's outstanding shares.

Market capitalization (market cap) is the market value of a publicly traded company's outstanding shares. The disclosure for this sale can be found here. FIT stock price revealed pessimistic move of 9.41% comparing average price of last 200 days.

Fitbit, Inc. designs and sells connected health and fitness tracking devices.The firm is valued at $1.47 billion.

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