Fitbit (NYSE: FIT) recently received a number of ratings updates from brokerages and research firms:

  • 8/29/2017 – Fitbit was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.50 price target on the stock. According to Zacks, “Fitbit Inc. is a manufacturer of wearable fitness tracking devices. The company reported second-quarter 2017 adjusted loss of 18 cents per share, which was narrower than the Zacks Consensus Estimate. Over the last year, the stock has underperformed the industry it belongs to. Fitbit’s growth has been slowing down with smartwatches outshining the fitness wearable category, influx of new wearables, lack of upgrades among existing users and lackluster growth in the Asia Pacific region. Management has taken some recovery initiatives that include executive shakeup and cost structuring.”
  • 8/29/2017 – Fitbit had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $8.00 price target on the stock.
  • 8/28/2017 – Fitbit was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $6.56 price target on the stock.
  • 8/28/2017 – Fitbit was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Fitbit Inc. is a manufacturer of wearable fitness tracking devices. The company reported second-quarter 2017 adjusted loss of 18 cents per share, which was narrower than the Zacks Consensus Estimate. Over the last one year, the stock has underperformed the Zacks characterised Electronic Measuring Instruments Industry. Fitbit’s growth has been slowing down with smartwatches outshining the fitness wearable category, influx of new wearables, lack of upgrades among existing users and lackluster growth in the Asia Pacific region. Management has taken some recovery initiatives that include executive shakeup and cost structuring.”
  • 8/25/2017 – Fitbit was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 8/24/2017 – Fitbit was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $6.19 price target on the stock.
  • 8/22/2017 – Fitbit was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $6.17 price target on the stock.
  • 8/16/2017 – Fitbit was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $5.79 price target on the stock.
  • 8/9/2017 – Fitbit had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $5.50 price target on the stock.
  • 8/8/2017 – Fitbit was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $6.50 price target on the stock. According to Zacks, “Fitbit Inc. is a manufacturer of wearable fitness tracking devices. The company reported second-quarter 2017 adjusted loss of 18 cents per share, which was narrower than the Zacks Consensus Estimate. Over the last one year, the stock has underperformed the Zacks characterised Electronic Measuring Instruments Industry. Fitbit’s growth has been slowing down with smartwatches outshining the fitness wearable category, influx of new wearables, lack of upgrades among existing users and lackluster growth in the Asia Pacific region. Management has taken some recovery initiatives that include executive shakeup and cost structuring.”
  • 8/4/2017 – Fitbit had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $8.00 price target on the stock.
  • 8/3/2017 – Fitbit was given a new $6.00 price target on by analysts at Cowen and Company. They now have a “hold” rating on the stock.
  • 8/3/2017 – Fitbit had its price target lowered by analysts at Deutsche Bank AG from $6.50 to $5.50. They now have a “hold” rating on the stock.
  • 8/3/2017 – Fitbit had its “hold” rating reaffirmed by analysts at Longbow Research.
  • 8/3/2017 – Fitbit had its “buy” rating reaffirmed by analysts at Benchmark Co..
  • 8/2/2017 – Fitbit was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $5.79 price target on the stock.
  • 8/2/2017 – Fitbit was given a new $6.00 price target on by analysts at Stifel Nicolaus. They now have a “hold” rating on the stock.
  • 8/1/2017 – Fitbit was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 8/1/2017 – Fitbit was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/31/2017 – Fitbit had its price target lowered by analysts at Morgan Stanley from $7.00 to $6.50. They now have an “equal weight” rating on the stock.
  • 7/31/2017 – Fitbit had its “neutral” rating reaffirmed by analysts at Dougherty & Co.
  • 7/28/2017 – Fitbit had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $6.50 price target on the stock.
  • 7/24/2017 – Fitbit was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $5.55 price target on the stock.
  • 7/19/2017 – Fitbit was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/17/2017 – Fitbit was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $5.55 price target on the stock.
  • 7/13/2017 – Fitbit was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 7/12/2017 – Fitbit was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/12/2017 – Fitbit was downgraded by analysts at Vetr from a “buy” rating to a “sell” rating. They now have a $4.83 price target on the stock.

Shares of Fitbit, Inc. (FIT) opened at 5.97 on Thursday. Fitbit, Inc. has a 12 month low of $4.90 and a 12 month high of $17.18. The company’s market capitalization is $1.39 billion. The stock has a 50 day moving average price of $5.51 and a 200-day moving average price of $5.62.

Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $341.24 million. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.67%. The company’s quarterly revenue was down 39.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 earnings per share. Analysts expect that Fitbit, Inc. will post ($0.31) earnings per share for the current fiscal year.

In other Fitbit news, Director Christopher B. Paisley purchased 25,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $5.39 per share, for a total transaction of $134,750.00. Following the completion of the purchase, the director now directly owns 36,442 shares in the company, valued at approximately $196,422.38. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Glenda J. Flanagan purchased 18,248 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $5.48 per share, with a total value of $99,999.04. Following the purchase, the director now owns 29,753 shares of the company’s stock, valued at $163,046.44. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 535,000 shares of company stock valued at $3,049,400. Insiders own 29.10% 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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