Analyst Rating Update on Fitbit (FIT)

Fitbit (FIT) has an average broker rating of 2.04, which is interpreted as a Buy, as rated by 23 equity analysts. Nonetheless, 10 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 11 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 4, which is also a Sell.

Fitbit (FIT) : The highest level Fitbit (FIT) is projected to reach is $32 for the short term and the lowest estimate is at $14. The consolidated price target from 16 rating analysts who initiate coverage on the stock is $21.44 and the possibility the share price can swing is $5.03.

For the current week, the company shares have a recommendation consensus of Buy. Also, Wells Fargo initiates coverage on Fitbit (NYSE:FIT). Wells Fargo has a Market Perform rating on the shares. The rating by the firm was issued on July 12, 2016.


Fitbit (NYSE:FIT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.11 and $13.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.93, notching a gain of 13.45% for the day. The total traded volume was 37,547,881 . The stock had closed at $13.16 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.