Fitbit (FIT) Receives ‘Analyst’ Rating

Fitbit (FIT) : The consensus on Fitbit (FIT) based on 21 analyst recommendation on the company stock is 2.05, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 9 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 10 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

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 15 rating analysts who initiate coverage on the stock is $21.27 and the possibility the share price can swing is $4.99.


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 (NYSE:FIT): After opening at $14.84, the stock dipped to an intraday low of $14.84 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $16.045 and the buying power remained strong till the end. The stock closed at $16.03 for the day, a gain of 8.60% for the day session. The total traded volume was 15,562,611. The stocks close on the previous trading day was $14.76.

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.