Instead, they should also do their own research-such as reading the prospectus for new companies or for public companies, the quarterly and annual reports filed with the SEC-to confirm whether a particular investment is appropriate for them in light of their individual financial circumstances. The value of the company's investment in Fitbit, Inc. Vetr lowered Fitbit from a "strong-buy" rating to a "buy" rating and set a $6.19 price target for the company.in a research note on Thursday, August 24th. Deutsche Bank AG decreased their target price on shares of Fitbit from $6.50 to $6.00 and set a "hold" rating for the company in a research report on Monday, May 15th. Oppenheimer maintained the shares of FIT in report on Monday, June 26 with "Outperform" rating. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock now has an average rating of "Hold" and an average price target of $7.96.
According to Zacks, "Fitbit Inc.is a manufacturer of wearable fitness tracking devices".
The most recent open market insider trade was Automatic Sell of 15,000 shares on a day where the closing price was 5.9. Fitbit has a 12 month low of $4.90 and a 12 month high of $17.18. In the last earnings report the EPS was $-1.06 and is expected to be $-0.31 for the current year with 232,932,000 shares now outstanding.
Net profit margin of the company is seen at -13.80%. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $341.24 million. Analysts expect next quarter's EPS to be $-0.03 and the next full year EPS is anticipated to be $-0.18. The business's revenue for the quarter was down 39.8% on a year-over-year basis.
Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, August 2nd. Also, Director Jon Callaghan sold 15,000 shares of Fitbit stock in a transaction on Tuesday, August 1st. Russell Investments Group Ltd. now owns 104,601 shares of the scientific and technical instruments company's stock valued at $621,000 after acquiring an additional 103,035 shares during the period.
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Taco Bell employees shot and killed an armed robber who tried to hold up the store on Wednesday morning, according to police. Investigators said five employees were working when two masked suspects entered and ordered victims to the floor at gunpoint.
In other news, EVP Andy Missan sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $5.09, for a total transaction of $76,350.00. The disclosure for this sale can be found here. Insiders own 29.10% of the company's stock.
Among 27 analysts covering Fitbit (NYSE:FIT), 4 have Buy rating, 3 Sell and 20 Hold. AlpInvest Partners B.V. increased its position in shares of Fitbit by 220.6% during the first quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Fitbit in the 1st quarter valued at $24,404,000. Quantbot Technologies LP now owns 93,661 shares of the scientific and technical instruments company's stock valued at $554,000 after buying an additional 25,256 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Fitbit by 6,579.5% during the 1st quarter. Stoneridge Investment Partners LLC now owns 154,869 shares of the scientific and technical instruments company's stock valued at $917,000 after acquiring an additional 135,968 shares during the period. State Street Corp raised its stake in Fitbit by 68.0% during the 2nd quarter. Summit Street Capital Management, LLC now holds 490,665 shares with a value of $2,605,000. Swiss National Bank increased its position in shares of Fitbit by 10.3% in the 1st quarter. (FIT) most recent 13F filing, the company has 37 new institutional holders - accounting for 9.41 million shares of its common stock.
With Fitbit suffering from a steep drop-off in demand for its fitness trackers, the Ionic smartwatch needs to be a success for the company to turn itself around.
Fitbit Inc (NYSE:FIT) now has a trailing P/E of -5.58 while its forward P/E according to Thomson Reuters is -32.83.