Fitbit Inc (FIT) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.03. The company posted revenue of $505.40 million in the period, compared to analysts expectations of $440.03 million. The company’s revenue was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Fitbit Inc. Company shares were Reiterated by Piper Jaffray on Apr 15, 2016 to “Neutral”, Firm has raised the Price Target to $ 16 from a previous price target of $14 .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 opened for trading at $18.39 and hit $18.39 on the upside on Monday, eventually ending the session at $18.37, with a gain of 0.66% or 0.12 points. The heightened volatility saw the trading volume jump to 68,59,104 shares. Company has a market cap of $3,968 M.
In a different news, on May 3, 2016, Timothy M. Roberts (EVP, INTERACTIVE) sold 47,470 shares at $18.10 per share price. According to the SEC, on Apr 19, 2016, Hansgregory C. Hartmann (COO) sold 150,000 shares at $17.19 per share price. On Apr 8, 2016, Andy Missan (EVP, GC, & SECRETARY) sold 15,000 shares at $15.35 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.