Short Term Price Target on Fitbit (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.

Fitbit Inc. has lost 8.05% in the last five trading days and dropped 15.78% in the last 4 weeks. Fitbit Inc. has dropped 18.1% during the last 3-month period . Year-to-Date the stock performance stands at -58.7%. Also, Wedbush initiates coverage on Fitbit (NYSE:FIT). Wedbush has a Outperform rating on the shares. As per the latest report, the brokerage house announces the price target to $18 per share. The rating by the firm was issued on June 9, 2016.

Fitbit (NYSE:FIT) : 22 analysts are covering Fitbit (NYSE:FIT) and their average rating on the stock is 2, which is read as a Buy. 10 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Fitbit (NYSE:FIT) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 10 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Fitbit (NYSE:FIT): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.01 and $11.70 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.22, notching a gain of 0.74% for the day. The total traded volume was 7,851,113 . The stock had closed at $12.13 on the previous day.

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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