Fitbit (FIT) Getting Somewhat Favorable Media Coverage, Report Shows
Media headlines about Fitbit (NYSE:FIT) have been trending somewhat positive on Monday, Accern Sentiment reports. Accern identifies positive and negative press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fitbit earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned media coverage about the scientific and technical instruments company an impact score of 45.7559861841051 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Fitbit, Inc. (FIT) Expected to Post Quarterly Sales of $391.50 Million (americanbankingnews.com)
- 3 Stocks to Gain as Internet of Things Weaves Into Our Lives (investorplace.com)
- Fitbit, Inc. (FIT) Downgraded to Hold at Vetr Inc. (americanbankingnews.com)
- Today's charts: GoPro shares jump; Fitbit gains on new partnership; Airlines cancel flights to south Florida (finance.yahoo.com)
- Today's Charts: GoPro shares surge; Fitbit jumps on new partnership; Airlines cancel flights to south Florida (finance.yahoo.com)
Several equities analysts have commented on FIT shares. Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a report on Saturday, June 3rd. Stifel Nicolaus set a $6.00 price target on shares of Fitbit and gave the company a “hold” rating in a report on Wednesday, August 2nd. Deutsche Bank AG cut their target price on shares of Fitbit from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Benchmark Co. reiterated a “buy” rating on shares of Fitbit in a research report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $8.00 price target on shares of Fitbit in a research report on Friday, August 4th. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. Fitbit has a consensus rating of “Hold” and an average target price of $7.97.
Shares of Fitbit (NYSE:FIT) traded down 0.48% during mid-day trading on Monday, hitting $6.26. The stock had a trading volume of 6,208,236 shares. Fitbit has a one year low of $4.90 and a one year high of $17.18. The stock’s market cap is $1.46 billion. The firm has a 50 day moving average of $5.63 and a 200-day moving average of $5.63.
Fitbit (NYSE:FIT) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The firm had revenue of $353.30 million for the quarter, compared to the consensus estimate of $341.24 million. During the same quarter last year, the business posted $0.12 earnings per share. The firm’s revenue was down 39.8% compared to the same quarter last year. Equities research analysts expect that Fitbit will post ($0.31) earnings per share for the current fiscal year.
In related news, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $5.68, for a total transaction of $28,400.00. Following the completion of the transaction, the executive vice president now directly owns 80,332 shares of the company’s stock, valued at approximately $456,285.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Joseph Murray sold 500,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $5.73, for a total value of $2,865,000.00. Following the transaction, the director now directly owns 11,442 shares of the company’s stock, valued at $65,562.66. The disclosure for this sale can be found here. Insiders sold 555,000 shares of company stock valued at $3,167,450 over the last ninety days. Insiders own 29.10% of the company’s stock.
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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.
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