Fitbit Inc. (NYSE:FIT)
- Author: Arturo Norris Feb 24, 2017,
Feb 24, 2017, 14:08
This rating was issued on 1/31/17. It opened the session with a $6.11 price tag, later ranging from $5.8 to $6.14, the range at which the stock has traded at throughout the day. They issued a "neutral" rating and a $29.00 target price on the stock. These analysts and investment firms use various valuation methods to decide a price target for a stock.
Citigroup Downgrade its coverage for Fitbit Inc.
U.S. based company, Fitbit, Inc.'s (FIT)'s latest closing price distance was -48.58% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -14.17% and -3.51% compared with the 20 Day Moving Average. (NYSE:FIT) in a research note published on Wednesday morning. The research firm Downgrade the stock to Sell. After the session commenced at $6.11, the stock reached the higher end at $6.14 while it hit a low of $5.8.
Analysts' mean recommendation for Fitbit, Inc.'s (FIT) stands at 3.00. The company has an average rating of "Hold" and a consensus target price of $12.27.
Sell-side analyst recommendations point to a short term price target of $7.2 on the shares of Fitbit, Inc. Working backward, shares of Fitbit, Inc. have moved by -33.57%, 13.45% and -18.83% on first day after earnings while on day-7 changes were -33.26%, 18.92% and -18.6% in recent 3 quarters. Out of 0 brokerage recommendations, 0 gave a Strong Buy, 0 issued a Buy, 0 issued Hold, 0 rated Under-perform and 0 issued a Sell. The scale runs from 1 to 5 with 1 recommending Strong Buy and 5 recommending a Strong Sell. IBM Retirement Fund purchased a new stake in shares of Fitbit during the second quarter worth approximately $156,000.
Tesla Inc (NASDAQ:TSLA) shares climbed 3% in after-hours trading Wednesday, after the electric vehicles giant published its fourth-quarter results, posting a loss of $0.69 per share on revenue of $2.28 billion, compared to consensus estimates, which called for a loss of $0.43 per share on revenue of $2.18 billion. The analysts offering Earnings Estimates for the company were believing that Fitbit Inc. On average, analysts expect that Fitbit will post ($0.08) earnings per share for the current fiscal year.
For the quarter ending 08/02/2016, The Analyst projected that the company could deliver EPS of 0.11 while the company provided its Actual EPS of 0.12 showing a difference of 0.01 Percent between the Estimated and Actual EPS. According to the latest information available, the market cap of the company is $1,316 M. The stock had a trading volume of 9,928,223 shares. There was a stock increase by 1.34 percent. The Moving Average SMA50 is -15.98% while SMA200 is -49.77%. The stock has Return on Assets (ROA) of 6.2 percent. Net profit margin of the company was recorded at 4.3 percent, operating profit margin was 8 percent, whereas gross profit margin stands at 46.3 percent.
While looking at the Stock's Performance, Fitbit Inc. now shows a Weekly Performance of 0.34%, where Monthly Performance is -17.18%, Quarterly performance is -32.8%, 6 Months performance is -59.28% and yearly performance percentage is -55.05%. The Monthly and Yearly performances are -17.18 percent and -55.05 percent respectively.
Fitbit, Inc is a provider of health and fitness devices. The Average Volume of the company is 11.05 Million and P/E (price to earnings) ratio is 14.62, while Forward P/E ratio is 0. California State Teachers Retirement System now owns 270,143 shares of the company's stock valued at $4,009,000 after buying an additional 2,500 shares during the period.