Somewhat Positive Media Coverage Somewhat Unlikely to Affect Fitbit (FIT) Share Price

James Marshall
April 17, 2018

The Higher end of the revenue forecast is $353.3 Million, while the Lower end of the forecast is $281.4 Million.

Analysts believe that the company has the potential to earn average revenue of $247.08 Million for the current quarter.

Fitbit (NYSE: FIT) has obvious gauge of stock volatility. The stock had a trading volume of 1,545,427 shares, compared to its average volume of 6,017,675.

A number of research analysts have commented on the company.

Fitbit Inc (NYSE:FIT) as of recent trade, has shown weekly upbeat performance of 8.35% which was maintained at -1.3% in 1-month period. Fitbit had a negative return on equity of 17.11% and a negative net margin of 17.16%. analysts expect that Fitbit will post -0.55 earnings per share for the current year.

According to Finviz reported data, The SMA20 of the stock is at 6.05 percent, SMA50 is 3.71 percent, while SMA200 is -8.11 percent. Stifel Nicolaus cut shares of Fitbit from a "hold" rating to a "sell" rating and set a $6.00 target price for the a research note on Friday, December 15th. On Tuesday, February 27 the rating was maintained by Citigroup with "Sell". Stifel analysts upgraded the shares of Fitbit, Inc. from a Sell to Hold in a research note they presented on January 31st, 2018. Roth Capital started coverage on shares of Fitbit in a research note on Friday, January 5th. Brokerage firms on the street have price targets on the name ranging from $4 to $10 based on 11 opinions. Leerink Swann maintained it with "Outperform" rating and $79 target in Thursday, August 6 report. On during the last trading session the stock increased $0.02 or 0.38%, reaching $5.34.Fitbit, Inc. has volume of 4.13 million shares. On Monday, April 2 Morgan Stanley downgraded the shares of FIT in report to "Underweight" rating.

The price-earnings ratio (P/E ratio) is the ratio for valuing a company that measures its current share price relative to its per-share earnings. Fitbit has a 1-year low of $4.51 and a 1-year high of $7.32.

In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the firm's stock in a transaction on Monday, April 2nd. A total of 3.17 Million shares exchanged hands during the intra-day trade compared with its average trading volume of 5.79 Million shares, while its relative volume stands at 0.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

In other news, EVP Timothy M. Roberts sold 369,385 shares of the business's stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $4.62, for a total transaction of $69,300.00. Following the transaction, the executive vice president now directly owns 125,127 shares in the company, valued at $646,906.59. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $291,000 in the last ninety days. This also includes the crucial role of both active investors and passive stakeholders who would always in search of concrete data and handy information regarding the changing trends of the stock market. Accern also gave news headlines about the scientific and technical instruments company an impact score of 44.7434531855245 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock's share price in the immediate future. Ameriprise Financial Inc. boosted its stake in shares of Fitbit by 476.2% in the third quarter. However the six-month change in the insider ownership was recorded -68.88%, as well as three-month change in the institutional ownership was recorded 0.14%. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Fitbit by 9.0% in the 4th quarter. This stock evaluation is critical in establishing whether stakeholders and traders tend towards buying more of the stock or selling more of the stock.

The stock has P/B of 1.52. Institutional investors and hedge funds own 61.49% of the company's stock.

COPYRIGHT VIOLATION WARNING: This article was reported by Week Herald and is the sole property of of Week Herald. On Tuesday, February 27 the stock of Fitbit, Inc. It also provides Fitbit Alta, a customizable wristband that offers call, text, and calendar notifications when paired with the user's phone and SmartTrack automatic exercise recognition; Fitbit Charge 2, a wireless heart rate and activity wristband; Fitbit Blaze, a smart fitness watch that provides multi-sport functionality, tracks outdoor cycling activity, and run cues; and Fitbit Surge, a fitness watch that features a Global Positioning System watch, heart rate tracker, activity tracker, and smartwatch.

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