Is there a Bearish outlook for Fitbit, Inc. (NYSE:FIT) this week?

June 13, 2018 - By Richard Conner

Fitbit, Inc. (NYSE:FIT) Logo

Fitbit, Inc. (NYSE:FIT) Ratings Coverage

Among 10 analysts covering Fitbit (NYSE:FIT), 2 have Buy rating, 3 Sell and 5 Hold. Therefore 20% are positive. Fitbit had 15 analyst reports since December 15, 2017 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, May 1 by Roth Capital. The rating was downgraded by Stifel Nicolaus on Friday, December 15 to “Sell”. Bank of America maintained it with “Underperform” rating and $4.8 target in Thursday, May 3 report. The firm has “Underweight” rating by Morgan Stanley given on Monday, April 2. Roth Capital downgraded the stock to “Hold” rating in Thursday, March 15 report. The firm has “Hold” rating by Wedbush given on Thursday, June 7. On Monday, April 30 the stock rating was maintained by Craig Hallum with “Buy”. As per Tuesday, February 27, the company rating was maintained by Citigroup. DA Davidson initiated the stock with “Hold” rating in Monday, April 30 report. The stock of Fitbit, Inc. (NYSE:FIT) has “Hold” rating given on Tuesday, February 27 by Robert W. Baird. Below is a list of Fitbit, Inc. (NYSE:FIT) latest ratings and price target changes.

07/06/2018 Broker: Wedbush Rating: Hold New Target: $6.0000 Maintain
03/05/2018 Broker: Bank of America Old Rating: Underperform New Rating: Underperform Old Target: $5 New Target: $4.8 Maintain
01/05/2018 Broker: Roth Capital Rating: Buy New Target: $8.0000 Maintain
30/04/2018 Broker: DA Davidson Rating: Hold New Target: $5.5000 Initiate
30/04/2018 Broker: Craig Hallum Rating: Buy New Target: $10.0000 Maintain
02/04/2018 Broker: Morgan Stanley Old Rating: Equal-Weight New Rating: Underweight Old Target: $5 New Target: $4 Downgrade
19/03/2018 Broker: Craig Hallum Rating: Buy New Target: $10.0 Initiate
15/03/2018 Broker: Roth Capital Rating: Hold Downgrade
27/02/2018 Broker: Robert W. Baird Rating: Hold New Target: $5.0 Maintain
27/02/2018 Broker: Morgan Stanley Old Rating: Equal-Weight New Rating: Equal-Weight Old Target: $6 New Target: $5 Maintain

The stock decreased 2.64% or $0.2 during the last trading session, reaching $7.39. About 18.30M shares traded or 213.01% up from the average. Fitbit, Inc. (NYSE:FIT) has risen 2.23% since June 13, 2017 and is uptrending. It has underperformed by 10.34% the S&P500.

Fitbit, Inc. designs and sells connected health and fitness tracking devices. The company has market cap of $1.78 billion. The firm offers Fitbit Zip, an entry-level wireless activity tracker that allows users to track daily activity statistics, such as steps, distance, calories burned, and active minutes; Fitbit One, a clippable wireless tracker, which tracks floors climbed and sleep, as well as daily steps, distance, calories burned, and active minutes; and Fitbit Flex 2, a water-resistant fitness wristband that tracks pool swims comprising laps, duration, and calories burned in the Fitbit App. It currently has negative earnings. It also provides Fitbit Alta, a customizable wristband that offers call, text, and calendar notifications when paired with the userÂ’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 GPS watch, heart rate tracker, activity tracker, and smartwatch.

More notable recent Fitbit, Inc. (NYSE:FIT) news were published by: Seekingalpha.com which released: “Fitbit: Jump In Or Stay Clear?” on June 07, 2018, also 247Wallst.com with their article: “Fitbit Ships Over 1 Million Versa Devices” published on June 04, 2018, 247Wallst.com published: “Fitbit CEO Should Follow CFO Out the Door” on June 06, 2018. More interesting news about Fitbit, Inc. (NYSE:FIT) were released by: Seekingalpha.com and their article: “Fitbit: Time To Sell Again?” published on June 06, 2018 as well as Seekingalpha.com‘s news article titled: “Fitbit: Worth A Gamble At $5” with publication date: May 27, 2018.

Fitbit, Inc. (NYSE:FIT) Ratings Chart

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