Fitbit, Inc. (FIT) stock gained 23.28% return Quarterly
00:08, Oct 9, 2017
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Several research analysts have recently commented on the stock. The recent change has given its price a 12.25% lead over SMA 50 and -55.84% deficit over its 52-week high.
Deutsche Bank "Maintained" Fitbit Inc (NYSE:FIT) in a research note issued to investors on 8/03/17 to Hold with price target of $5.5. Vetr upgraded Fitbit from a sell rating to a hold rating and set a $6.47 target price for the company in a report on Tuesday, September 19th. A low number in the 1-2 range typically indicates a Buy, 3 represents a Hold and 4-5 represents a consensus Sell rating. The stock has a consensus rating of Hold and an average target price of $7.45. Morgan Stanley downgraded Fitbit Inc (NYSE:FIT) rating on Thursday, November 3. Following the completion of the transaction, the director now owns 11,442 shares of the company's stock, valued at $65,562.66. The Ionic is an important step for the company as it attempts to expand beyond activity trackers and get a bigger foothold in the broader wearables market. The Price to Sales (P/S) ratio of the stock is 0.87, while P/B (Price to Book) stands at 1.62. Fitbit Inc (NYSE:FIT) has declined 60.69% since October 7, 2016 and is downtrending. The scientific and technical instruments company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.10. The firm had revenue of $353.30 million for the quarter, compared to analyst estimates of $341.24 million. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The company's revenue for the quarter was down 39.8% compared to the same quarter previous year. During the same period a year ago, the company earned $0.12 earnings per share.
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06/06/2017 - Fitbit had its "sell" rating reiterated by analysts at Citigroup. The stock was sold at an average price of $5.91, for a total value of $295,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
In other Fitbit news, EVP Andy Missan sold 5,000 shares of the firm's stock in a transaction dated Friday, August 4th. The company has 231.26 Million shares outstanding and 140.51 Million shares were floated in market. The disclosure for this sale can be found here. A lower P/B ratio could mean that the stock is undervalued. Analysts' recommendations or reports can influence the price of a company's stock-especially when the recommendations are widely disseminated through television appearances or through other electronic and print media.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIT. BNP Paribas Arbitrage SA lifted its position in Fitbit by 15.6% during the 2nd quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company's stock valued at $86,832,000 after purchasing an additional 5,989,005 shares during the last quarter.
Fitbit, Inc. (FIT) now has the company's industry has 12.6 P/E and the sector P/E is 16.6. Swiss National Bank now owns 238,200 shares of the scientific and technical instruments company's stock worth $1,410,000 after acquiring an additional 22,300 shares during the last quarter. State Street Corp increased its stake in Fitbit by 68.0% in the second quarter.
The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 8.92%, and has a solid year to date (YTD) performance of -10.93% which means that the stock is constantly adding to its value from the previous fiscal year end price. Finally, Parametric Portfolio Associates LLC increased its position in Fitbit by 88.6% in the first quarter. Quinn Opportunity Partners LLC now owns 2,573,690 shares of the scientific and technical instruments company's stock valued at $13,666,000 after purchasing an additional 75,100 shares during the last quarter.
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