Media headlines about Fitbit (NYSE:FIT) have been trending somewhat positive this week, according to Accern. The research group identifies positive and negative news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Fitbit earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned press coverage about the scientific and technical instruments company an impact score of 44.1847261778345 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:

A number of research analysts recently issued reports on the stock. Vetr upgraded shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $5.79 price objective for the company in a report on Wednesday, August 2nd. Cowen and Company set a $6.00 price target on shares of Fitbit and gave the company a “hold” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $8.00 price target on shares of Fitbit in a report on Monday, June 26th. Morgan Stanley reduced their price target on shares of Fitbit from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, August 8th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $7.45.

Shares of Fitbit (NYSE FIT) traded down 0.76% during trading on Wednesday, hitting $6.56. 2,496,285 shares of the stock traded hands. Fitbit has a 1-year low of $4.90 and a 1-year high of $14.27. The stock has a 50 day moving average price of $6.55 and a 200-day moving average price of $6.55. The stock’s market cap is $1.53 billion.

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

In other news, Director Jon Callaghan sold 15,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $6.89, for a total transaction of $103,350.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Andy Missan sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $5.68, for a total value of $28,400.00. Following the sale, the executive vice president now owns 80,332 shares in the company, valued at $456,285.76. The disclosure for this sale can be found here. Insiders sold a total of 585,000 shares of company stock worth $3,400,600 over the last 90 days. 29.10% of the stock is currently owned by company insiders.

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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.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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