Brokerages predict that Fitbit Inc (NYSE:FIT) will report $522.11 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Fitbit’s earnings, with the highest sales estimate coming in at $544.53 million and the lowest estimate coming in at $495.20 million. Fitbit posted sales of $571.20 million during the same quarter last year, which suggests a negative year over year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings report on Wednesday, February 26th.

According to Zacks, analysts expect that Fitbit will report full year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.48 billion. For the next year, analysts anticipate that the company will report sales of $1.50 billion, with estimates ranging from $1.47 billion to $1.56 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Fitbit.

Fitbit (NYSE:FIT) last announced its earnings results on Wednesday, November 6th. The scientific and technical instruments company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). The firm had revenue of $347.20 million for the quarter, compared to analysts’ expectations of $346.33 million. Fitbit had a negative return on equity of 21.76% and a negative net margin of 12.27%.

A number of equities research analysts have commented on FIT shares. Roth Capital cut Fitbit from a “buy” rating to a “neutral” rating and set a $7.30 target price on the stock. in a report on Friday, November 1st. Wedbush reiterated a “hold” rating and set a $4.00 target price on shares of Fitbit in a report on Tuesday, October 29th. Citigroup upgraded Fitbit from a “sell” rating to a “hold” rating and increased their target price for the company from $2.00 to $7.30 in a report on Friday, November 1st. Morgan Stanley upgraded Fitbit from an “underweight” rating to an “equal weight” rating and set a $7.30 target price on the stock in a report on Friday, November 1st. Finally, Craig Hallum cut Fitbit from a “buy” rating to a “hold” rating and set a $7.30 target price on the stock. in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Fitbit currently has an average rating of “Hold” and a consensus price target of $6.61.

In other news, CEO James Park sold 340,987 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $6.80, for a total transaction of $2,318,711.60. Following the sale, the chief executive officer now owns 527,017 shares in the company, valued at $3,583,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.60% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Fitbit by 7.4% during the second quarter. Vanguard Group Inc. now owns 26,441,008 shares of the scientific and technical instruments company’s stock worth $116,340,000 after purchasing an additional 1,814,654 shares during the last quarter. DNB Asset Management AS boosted its holdings in shares of Fitbit by 15.1% during the third quarter. DNB Asset Management AS now owns 25,537,728 shares of the scientific and technical instruments company’s stock worth $97,299,000 after purchasing an additional 3,342,738 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Fitbit by 35.2% during the second quarter. BlackRock Inc. now owns 22,139,515 shares of the scientific and technical instruments company’s stock worth $97,414,000 after purchasing an additional 5,763,694 shares during the last quarter. State Street Corp boosted its holdings in Fitbit by 3.5% in the third quarter. State Street Corp now owns 4,594,751 shares of the scientific and technical instruments company’s stock valued at $17,506,000 after acquiring an additional 154,671 shares during the last quarter. Finally, Northern Trust Corp raised its position in Fitbit by 1.9% in the second quarter. Northern Trust Corp now owns 2,628,466 shares of the scientific and technical instruments company’s stock valued at $11,566,000 after purchasing an additional 48,996 shares during the period. Institutional investors and hedge funds own 52.89% of the company’s stock.

NYSE:FIT traded up $0.01 during trading hours on Monday, reaching $6.69. 3,549,387 shares of the company traded hands, compared to its average volume of 4,914,177. The firm’s 50-day moving average is $6.58 and its 200-day moving average is $5.02. The stock has a market cap of $1.53 billion, a P/E ratio of -9.29 and a beta of 1.73. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.29. Fitbit has a 1-year low of $2.81 and a 1-year high of $7.26.

Fitbit Company Profile

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Ace, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic and Fitbit Versa smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

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