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Principale » The Fitbit's (NYSE:FIT) "Neutral" Rating Reaffirmed at Dougherty & Co

The Fitbit's (NYSE:FIT) "Neutral" Rating Reaffirmed at Dougherty & Co

08 Juillet 2017

FIT has been the topic of a number of recent analyst reports.

Several hedge funds and other institutional investors have recently bought and sold shares of FIT. The firm earned "Equal Weight" rating on Friday, November 4 by Barclays Capital. FIX reaffirmed an outperform rating and issued a $8.00 price objective on shares of Fitbit in a research note on Thursday, February 23rd. Finally, Deutsche Bank AG decreased their price target on shares of Fitbit from $6.50 to $6.00 and set a "hold" rating for the company in a report on Monday, May 15th. Raymond James Financial, Inc. reiterated an outperform rating and issued a $9.00 target price on shares of Fitbit in a report on Monday, February 27th. ValuEngine raised shares of Fitbit from a "strong sell" rating to a "sell" rating in a report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Earnings surprises can have a huge impact on a company's stock price. Mizuho downgraded Fitbit Inc (NYSE:FIT) on Thursday, November 3 to "Neutral" rating. For the current year the company's revenue estimates are $1.61 Billion compared to low analyst estimates of $1.53 Billion and high estimates of $1.72 Billion according to 18 number of analysts. Fitbit has a one year low of $4.90 and a one year high of $17.18. The stock exchanged hands 5.46 Million shares versus average trading capacity of 7.07 Million shares, yielding a market cap of $1.21 Billion.

Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.15) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.25) by $0.10. Fitbit had a negative net margin of 8.86% and a negative return on equity of 14.57%. For the current quarter Fitbit Inc (NYSE:FIT) has high EPS estimates of $-0.08 in contradiction of low EPS estimates of $-0.16.

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Land Dispute near India-China-Bhutan Tri-Junction
Geng also claimed India had ulterior motives in expanding the scope of the tri-junction region in the Sikkim sector. The Indian troops intervened on June 16 on behalf of Bhutan to stop the road construction by the Chinese.

Fitbit Inc (NYSE:FIT)'s trailing twelve month revenues are $1.96 Billion, whereas its price to sales ratio for the same period is 0.62. Also, Director Steven Joseph Murray sold 500,000 shares of the company's stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $5.31, for a total transaction of $79,650.00. With 5.71 million avg volume, 7 days are for Fitbit Class A (NYSE:FIT)'s short sellers to cover FIT's short positions. The shares were sold at an average price of $5.33, for a total value of $2,665,000.00. Raymond James Financial Services Advisors Inc. now owns 33,666 shares of the scientific and technical instruments company's stock worth $199,000 after buying an additional 4,271 shares in the last quarter. The disclosure for this sale can be found here. Guggenheim Capital LLC now owns 36,211 shares of the scientific and technical instruments company's stock worth $266,000 after buying an additional 2,264 shares during the last quarter.

Large investors have recently modified their holdings of the stock. Foundry Group LLC purchased a new position in shares of Fitbit during the fourth quarter worth $49,777,000. Capstone Investment Advisors LLC bought a new position in shares of Fitbit during the fourth quarter valued at approximately $108,000. Allianz Asset Management AG bought a new position in shares of Fitbit during the fourth quarter valued at $146,000. Sciencast Management LP purchased a new stake in shares of Fitbit during the fourth quarter worth about $148,000. Finally, Croft Leominster Inc. bought a new position in shares of Fitbit during the first quarter valued at $166,000.

By having an overview of the Income statement for Fitbit Inc (NYSE:FIT) the Revenue for the trailing twelve months is 1.96 Billion.