Price Target Update on Fitbit (NYSE:FIT)

Fitbit (NYSE:FIT) : 16 Wall Street analysts covering Fitbit (NYSE:FIT) believe that the average level the stock could reach for the short term is $21.75. The maximum price target given is $32 and the minimum target for short term is around $16, hence the standard deviation is calculated at $4.73.

Other Equity analysts have also commented on the company shares. Wedbush initiates coverage on Fitbit (NYSE:FIT) . The global brokerage major announces a current price target of $18 per share. Analysts at the Wedbush have a current rating of Outperform on the shares. The rating by the firm was issued on June 9, 2016.

Fitbit (NYSE:FIT): stock turned positive on Thursday. Though the stock opened at $12.95, the bulls momentum made the stock top out at $13.39 level for the day. The stock recorded a low of $12.81 and closed the trading day at $13.29, in the green by 3.91%. The total traded volume for the day was 10,273,745. The stock had closed at $12.79 in the previous days trading.

On the companys insider trading activities, The Securities and Exchange Commission has divulged that Missan Andy, officer (EVP, GC, & SECRETARY) of Fitbit Inc, had unloaded 10,000 shares at an average price of $14.35 in a transaction dated on June 6, 2016. The total value of the transaction was worth $143,500.

Fitbit, Inc. (Fitbit) is a provider of health and fitness products. The Companys 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.

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