News coverage about Fitbit (NYSE:FIT) has trended somewhat positive this week, Accern Sentiment reports. The research group rates the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Fitbit earned a news impact score of 0.16 on Accern’s scale. Accern also gave media coverage about the scientific and technical instruments company an impact score of 44.4024873241073 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

These are some of the news headlines that may have impacted Accern Sentiment’s rankings:

Fitbit (NYSE FIT) opened at $7.14 on Tuesday. Fitbit has a 1-year low of $4.90 and a 1-year high of $8.40.

Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Fitbit had a negative net margin of 23.35% and a negative return on equity of 28.33%. The firm had revenue of $392.50 million for the quarter, compared to analyst estimates of $391.70 million. During the same quarter last year, the firm posted $0.19 earnings per share. Fitbit’s revenue for the quarter was down 22.1% compared to the same quarter last year. equities analysts forecast that Fitbit will post -0.49 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research report on Monday, October 30th. Vetr raised shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $6.17 target price on the stock in a research report on Tuesday, August 22nd. BidaskClub raised shares of Fitbit from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Morgan Stanley raised their target price on shares of Fitbit from $6.50 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Finally, Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $6.94.

In related news, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $6.81, for a total value of $102,150.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven Joseph Murray sold 966,641 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $6.09, for a total transaction of $5,886,843.69. Following the completion of the transaction, the director now owns 11,442 shares in the company, valued at approximately $69,681.78. The disclosure for this sale can be found here. Insiders sold 1,051,841 shares of company stock worth $6,462,854 in the last 90 days. 29.10% of the stock is currently owned by insiders.

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About Fitbit

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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