Fitbit Inc (FIT) is Reiterated by Piper Jaffray to Neutral, Raises Price Target to $ 16

Fitbit Inc (FIT) was Reiterated by Piper Jaffray to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 16 from a previous price target of $14 . Piper Jaffray advised their investors in a research report released on Apr 15, 2016.

Many Wall Street Analysts have commented on Fitbit Inc. Longbow Initiated Fitbit Inc on Mar 31, 2016 to “Buy”, Price Target of the shares are set at $20.Shares were Reiterated by Mizuho on Feb 23, 2016 to “Buy” and Lowered the Price Target to $ 20 from a previous price target of $38 .Fitbit Inc was Downgraded by Piper Jaffray to ” Neutral” on Feb 23, 2016.

On the company’s financial health, Fitbit Inc reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 22, 2016. Analyst had a consensus of $0.25. The company had revenue of $711.60 million for the quarter, compared to analysts expectations of $648.00 million. The company’s revenue was up 92.2% compared to the same quarter last year.

Fitbit Inc opened for trading at $14.85 and hit $15.52 on the upside on Monday, eventually ending the session at $14.84, with a gain of 2.34% or 0.34 points. The heightened volatility saw the trading volume jump to 89,62,483 shares. Company has a market cap of $3,206 M.

In a different news, on Apr 8, 2016, Andy Missan (EVP, GC, & SECRETARY) sold 15,000 shares at $15.35 per share price. According to the SEC, on Apr 5, 2016, Timothy M. Roberts (EVP, INTERACTIVE) sold 47,470 shares at $15.00 per share price. On Feb 26, 2016, Hansgregory C. Hartmann (COO) sold 70,000 shares at $12.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Fitbit Inc. (Fitbit) is a provider of health and fitness products. The Company’s Fitbit 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 fitness plans and interactive workouts. It offers a number of fitness products including Fitbit Zip Fitbit One Fitbit Flex Fitbit Charge Fitbit Charge HR Fitbit Surge and Aria. Its wrist-based and clippable devices automatically track users’ daily steps calories burned distance traveled floors climbed and active minutes and display real-time feedback to encourage them to become more active in their daily lives. Fitbit Premium is its membership that serves as an around the clock virtual personal trainer delivered to users through any Web browser. It operates FitStar a provider of interactive video-based exercise experiences on mobile devices and computers.

Fitbit Inc

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