Fitbit (FIT) Shares are Down -2.94%

Fitbit (FIT) has risen sharply, recording gains of 13.34% in the past 4 weeks. However, the stock has corrected -2.94% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 12.91% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

Fitbit Inc. has dropped 0.48% during the last 3-month period . Year-to-Date the stock performance stands at -50.9%. The stock has recorded a 20-day Moving Average of 0.59% and the 50-Day Moving Average is 6.78%.


Fitbit (NYSE:FIT): The stock opened at $14.50 on Friday but the bulls could not build on the opening and the stock topped out at $14.74 for the day. The stock traded down to $14.36 during the day, due to lack of any buying support eventually closed down at $14.53 with a loss of -0.27% for the day. The stock had closed at $14.57 on the previous day. The total traded volume was 4,515,961 shares.

Also, Morgan Stanley maintains its view on Fitbit (NYSE:FIT) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Morgan Stanley lowers the price target from $32 per share to $31 per share on Fitbit . The rating by the firm was issued on August 3, 2016.

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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