Vetr lowered shares of Fitbit Inc. (NYSE:FIT) from a strong-buy rating to a buy rating in a report released on Thursday. Vetr currently has $18.46 price target on the stock.

Analyst Recommendations for Fitbit (NYSE:FIT)

Several other equities research analysts also recently issued reports on FIT. Dougherty & Co reiterated a neutral rating on shares of Fitbit in a research note on Wednesday, June 1st. Royal Bank Of Canada decreased their target price on shares of Fitbit from $45.00 to $40.00 and set an outperform rating for the company in a research note on Wednesday, June 1st. SunTrust Banks Inc. restated a buy rating on shares of Fitbit in a research note on Thursday, June 2nd. Wedbush initiated coverage on shares of Fitbit in a research note on Wednesday, June 8th. They issued an outperform rating and a $18.00 target price for the company. Finally, Citigroup Inc. restated a buy rating and issued a $30.00 target price on shares of Fitbit in a research note on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $22.70.

Fitbit (NYSE:FIT) opened at 16.76 on Thursday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 35.36 and a beta of 3.30. Fitbit has a 12 month low of $11.65 and a 12 month high of $41.97. The firm’s 50-day moving average is $15.20 and its 200 day moving average is $14.56.

Fitbit (NYSE:FIT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. Fitbit had a net margin of 5.76% and a return on equity of 14.55%. The company earned $586.50 million during the quarter, compared to the consensus estimate of $578.48 million. During the same period in the previous year, the firm earned $0.21 earnings per share. Fitbit’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, equities analysts anticipate that Fitbit will post $1.18 earnings per share for the current year.

In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $14.91, for a total transaction of $223,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andy Missan sold 10,000 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $12.35, for a total transaction of $123,500.00. Following the sale, the executive vice president now directly owns 45,000 shares of the company’s stock, valued at $555,750. The disclosure for this sale can be found here. 37.29% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of FIT. Rathbone Brothers plc raised its stake in Fitbit by 6.1% in the second quarter. Rathbone Brothers plc now owns 14,850 shares of the company’s stock worth $181,000 after buying an additional 850 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Fitbit by 7.6% in the second quarter. 1832 Asset Management L.P. now owns 17,000 shares of the company’s stock worth $208,000 after buying an additional 1,200 shares in the last quarter. Diligent Investors LLC raised its stake in Fitbit by 6.5% in the second quarter. Diligent Investors LLC now owns 35,718 shares of the company’s stock worth $436,000 after buying an additional 2,190 shares in the last quarter. IFC Holdings Incorporated FL raised its stake in Fitbit by 25.4% in the second quarter. IFC Holdings Incorporated FL now owns 13,399 shares of the company’s stock worth $157,000 after buying an additional 2,710 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Fitbit by 71.1% in the second quarter. Legal & General Group Plc now owns 10,967 shares of the company’s stock worth $134,000 after buying an additional 4,558 shares in the last quarter. 55.41% of the stock is owned by institutional investors.

Fitbit Company Profile

Fitbit, Inc is a provider of health and fitness devices. The Company’s platform combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights and virtual coaching through customized fitness plans and interactive workouts.

5 Day Chart for NYSE:FIT

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