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

  • 9/13/2017 – 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 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.”
  • 9/12/2017 – Fitbit was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $7.00 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.”
  • 9/7/2017 – Fitbit was downgraded by analysts at Vetr from a “strong-buy” rating to a “hold” rating. They now have a $6.72 price target on the stock.
  • 9/6/2017 – 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 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.”
  • 9/5/2017 – Fitbit had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $6.00 price target on the stock.
  • 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.

Shares of Fitbit, Inc. (NYSE:FIT) traded up 6.23% during trading on Wednesday, hitting $6.65. 10,578,897 shares of the stock were exchanged. The stock’s 50 day moving average price is $6.26 and its 200 day moving average price is $6.22. The firm’s market capitalization is $1.55 billion. Fitbit, Inc. has a 52 week low of $5.62 and a 52 week high of $17.18.

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 net margin of 13.79% and a negative return on equity of 20.67%. The company had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $341.24 million. During the same quarter in the prior year, the company earned $0.12 EPS. The firm’s revenue was down 39.8% on a year-over-year basis. On average, equities analysts predict that Fitbit, Inc. will post ($0.31) earnings per share for the current year.

In other news, Director Steven Joseph Murray sold 500,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $5.73, for a total value of $2,865,000.00. Following the completion of the sale, the director now owns 11,442 shares of the company’s stock, valued at approximately $65,562.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andy Missan sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $5.68, for a total transaction of $28,400.00. Following the completion of the sale, the executive vice president now directly owns 80,332 shares of the company’s stock, valued at approximately $456,285.76. The disclosure for this sale can be found here. Insiders sold a total of 555,000 shares of company stock valued at $3,167,450 in the last ninety days. 29.10% of the stock is owned by corporate insiders.

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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