Equities research analysts expect that Fitbit Inc (NYSE:FIT) will announce $567.68 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Fitbit’s earnings, with the lowest sales estimate coming in at $560.00 million and the highest estimate coming in at $575.00 million. Fitbit reported sales of $570.76 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.5%. The firm is expected to announce its next earnings results on Monday, February 25th.

According to Zacks, analysts expect that Fitbit will report full-year sales of $1.51 billion for the current financial year, with estimates ranging from $1.50 billion to $1.52 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.57 billion, with estimates ranging from $1.45 billion to $1.72 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Fitbit.

Fitbit (NYSE:FIT) last released its quarterly earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Fitbit had a negative return on equity of 24.69% and a negative net margin of 16.32%. The company had revenue of $393.60 million for the quarter, compared to analyst estimates of $381.25 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. Fitbit’s quarterly revenue was up .3% compared to the same quarter last year.

FIT has been the topic of a number of recent analyst reports. Morgan Stanley set a $4.00 target price on Fitbit and gave the stock a “sell” rating in a research note on Thursday, November 1st. Wedbush increased their target price on Fitbit from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered Fitbit from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. William Blair reiterated a “market perform” rating on shares of Fitbit in a research note on Friday, September 21st. Finally, MED upgraded Fitbit from a “neutral” rating to an “outperform” rating and set a $6.50 target price on the stock in a research note on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Fitbit currently has an average rating of “Hold” and a consensus target price of $5.90.

NYSE:FIT traded up $0.05 during midday trading on Monday, hitting $5.66. 4,779,483 shares of the company traded hands, compared to its average volume of 6,249,214. Fitbit has a 12-month low of $4.23 and a 12-month high of $7.79. The firm has a market capitalization of $1.25 billion, a PE ratio of -8.71 and a beta of 1.65.

In other news, EVP Andy Missan sold 7,500 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was sold at an average price of $5.77, for a total transaction of $43,275.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven Joseph Murray sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $6.19, for a total value of $6,190,000.00. Following the transaction, the director now owns 42,332 shares in the company, valued at approximately $262,035.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,022,500 shares of company stock worth $12,533,525. Insiders own 19.84% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC increased its stake in shares of Fitbit by 50.3% during the third quarter. MetLife Investment Advisors LLC now owns 143,561 shares of the scientific and technical instruments company’s stock valued at $768,000 after buying an additional 48,023 shares during the period. Man Group plc purchased a new position in shares of Fitbit during the third quarter valued at $193,000. Deutsche Bank AG increased its stake in shares of Fitbit by 68.1% during the third quarter. Deutsche Bank AG now owns 2,131,126 shares of the scientific and technical instruments company’s stock valued at $11,399,000 after buying an additional 863,252 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Fitbit by 736.9% during the third quarter. JPMorgan Chase & Co. now owns 1,679,607 shares of the scientific and technical instruments company’s stock valued at $8,986,000 after buying an additional 1,478,907 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Fitbit during the third quarter valued at $942,000. Hedge funds and other institutional investors own 61.21% of the company’s stock.

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 Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic 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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