Fitbit (FIT) Stock Rating Lowered by ValuEngine
ValuEngine downgraded shares of Fitbit (NYSE:FIT) from a sell rating to a strong sell rating in a research report released on Wednesday.
Several other research analysts have also commented on FIT. Stifel Nicolaus lowered Fitbit from a hold rating to a sell rating and set a $6.00 price objective on the stock. in a research report on Friday, December 15th. Cleveland Research reissued a hold rating on shares of Fitbit in a research report on Thursday, December 21st. Morgan Stanley set a $6.00 price objective on Fitbit and gave the company a hold rating in a research report on Friday, January 5th. Roth Capital initiated coverage on Fitbit in a research report on Friday, January 5th. They issued a buy rating and a $10.00 price objective on the stock. Finally, Citigroup reissued a sell rating and issued a $4.50 price objective (down from $5.00) on shares of Fitbit in a research report on Tuesday, February 27th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $6.85.
Fitbit (NYSE:FIT) opened at $5.19 on Wednesday. Fitbit has a 52-week low of $4.67 and a 52-week high of $7.32. The company has a market capitalization of $1,080.59, a PE ratio of -4.36 and a beta of 2.14.
A number of large investors have recently bought and sold shares of FIT. Investors Research Corp acquired a new position in Fitbit in the fourth quarter worth about $101,000. BB&T Securities LLC acquired a new position in Fitbit in the third quarter worth about $116,000. Greenwich Wealth Management LLC grew its stake in Fitbit by 84.1% in the fourth quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company’s stock worth $134,000 after purchasing an additional 10,700 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in Fitbit in the fourth quarter worth about $139,000. Finally, Ingalls & Snyder LLC acquired a new position in Fitbit in the fourth quarter worth about $140,000. Institutional investors and hedge funds own 61.38% of the company’s stock.
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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.
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