Brokerages expect that Fitbit Inc (NYSE:FIT) will announce $0.03 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Fitbit’s earnings. The highest EPS estimate is $0.06 and the lowest is $0.01. Fitbit posted earnings per share of $0.14 in the same quarter last year, which would indicate a negative year over year growth rate of 78.6%. The company is expected to report its next earnings report on Wednesday, February 26th.

On average, analysts expect that Fitbit will report full year earnings of ($0.36) per share for the current fiscal year, with EPS estimates ranging from ($0.38) to ($0.32). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.27) per share, with EPS estimates ranging from ($0.45) to ($0.18). Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Fitbit.

Fitbit (NYSE:FIT) last issued its quarterly earnings results on Wednesday, November 6th. The scientific and technical instruments company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The firm had revenue of $347.20 million during the quarter, compared to the consensus estimate of $346.33 million. Fitbit had a negative return on equity of 21.76% and a negative net margin of 12.27%.

A number of analysts have recently issued reports on the company. Craig Hallum downgraded Fitbit from a “buy” rating to a “hold” rating and set a $7.30 price target for the company. in a research report on Friday, November 1st. Morgan Stanley upgraded Fitbit from an “underweight” rating to an “equal weight” rating and set a $7.30 price target for the company in a research report on Friday, November 1st. William Blair reiterated a “hold” rating on shares of Fitbit in a research report on Thursday, August 29th. DA Davidson downgraded Fitbit from a “buy” rating to a “neutral” rating and lifted their price target for the company from $5.75 to $7.35 in a research report on Monday, November 4th. Finally, ValuEngine upgraded Fitbit from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $6.61.

Shares of FIT remained flat at $$6.80 during trading hours on Monday. The stock had a trading volume of 10,381,865 shares, compared to its average volume of 30,809,696. The company has a market capitalization of $1.57 billion, a PE ratio of -11.33 and a beta of 1.71. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.58 and a current ratio of 1.65. The firm’s 50 day simple moving average is $4.92 and its 200 day simple moving average is $4.35. Fitbit has a 12-month low of $2.81 and a 12-month high of $7.26.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Fitbit by 1,110.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,752 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 5,277 shares during the period. Acadian Asset Management LLC purchased a new position in Fitbit in the 2nd quarter worth approximately $35,000. FNY Investment Advisers LLC purchased a new position in Fitbit in the 3rd quarter worth approximately $35,000. Allianz Asset Management GmbH purchased a new position in Fitbit in the 2nd quarter worth approximately $45,000. Finally, Moors & Cabot Inc. increased its stake in Fitbit by 25.2% in the 3rd quarter. Moors & Cabot Inc. now owns 12,900 shares of the scientific and technical instruments company’s stock worth $52,000 after purchasing an additional 2,600 shares during the period. 56.69% of the stock is currently owned by institutional investors.

Fitbit Company Profile

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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