Shares of Fitbit Inc (NYSE:FIT) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $6.28.

FIT has been the subject of a number of analyst reports. Zacks Investment Research raised Fitbit from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Friday, January 25th. ValuEngine raised Fitbit from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 15th. Wedbush cut Fitbit from an “outperform” rating to a “neutral” rating and set a $6.50 price objective for the company. in a report on Friday, February 22nd. DA Davidson raised Fitbit from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $5.50 to $7.00 in a report on Thursday, February 28th. Finally, William Blair reissued a “market perform” rating on shares of Fitbit in a report on Monday, March 11th.

Shares of NYSE FIT remained flat at $$5.38 during midday trading on Tuesday. The company’s stock had a trading volume of 3,603,558 shares, compared to its average volume of 3,614,709. The company has a market capitalization of $1.20 billion, a PE ratio of -8.97 and a beta of 1.70. Fitbit has a 12 month low of $4.23 and a 12 month high of $7.79.

Fitbit (NYSE:FIT) last issued its quarterly earnings data on Wednesday, February 27th. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $571.20 million during the quarter, compared to analysts’ expectations of $569.30 million. Fitbit had a negative return on equity of 19.03% and a negative net margin of 12.29%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned ($0.02) earnings per share. Analysts predict that Fitbit will post -0.43 earnings per share for the current fiscal year.

In related news, EVP Andy Missan sold 7,500 shares of Fitbit stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $5.85, for a total value of $43,875.00. Following the completion of the transaction, the executive vice president now directly owns 110,917 shares of the company’s stock, valued at $648,864.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 30,000 shares of company stock valued at $186,975 over the last ninety days. 19.84% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc raised its holdings in shares of Fitbit by 12.6% in the third quarter. Vanguard Group Inc now owns 19,805,756 shares of the scientific and technical instruments company’s stock valued at $105,961,000 after buying an additional 2,211,848 shares during the last quarter. Vanguard Group Inc. increased its position in Fitbit by 12.6% in the third quarter. Vanguard Group Inc. now owns 19,805,756 shares of the scientific and technical instruments company’s stock worth $105,961,000 after purchasing an additional 2,211,848 shares during the period. BlackRock Inc. increased its position in Fitbit by 6.2% in the fourth quarter. BlackRock Inc. now owns 16,696,783 shares of the scientific and technical instruments company’s stock worth $82,983,000 after purchasing an additional 972,560 shares during the period. Dimensional Fund Advisors LP increased its position in Fitbit by 11.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,670,215 shares of the scientific and technical instruments company’s stock worth $23,212,000 after purchasing an additional 464,411 shares during the period. Finally, Deutsche Bank AG increased its position in Fitbit by 67.7% in the fourth quarter. Deutsche Bank AG now owns 3,573,841 shares of the scientific and technical instruments company’s stock worth $17,760,000 after purchasing an additional 1,442,715 shares during the period. 65.28% of the stock is owned by institutional investors and hedge funds.

About Fitbit

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Ace, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic and Fitbit Versa smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

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Analyst Recommendations for Fitbit (NYSE:FIT)

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