Technology

Analysts Review: Fitbit Inc (FIT)

Fitbit Inc (NYSE:FIT) shares traded -0.98% down during most recent session to reach at the closing price of $5.06. The stock exchanged hands 7.14 Million shares versus average trading capacity of 7.55 Million shares, yielding a market cap of $1.17 Billion. Wall Street analysts covering the stock are projecting that the stock will reach $7.1 within the next 52-weeks. The mean target projections are based on 15 opinions.

Taking a broader look brokerage firms’ analysts on the street with an expectant view have Fitbit Inc (NYSE:FIT) high price target of $10 and with a conservative view have low price target of $5.

Benchmark “Initiates Coverage On” Fitbit Inc (NYSE:FIT) in a research note issued to investors on 4/25/17 to Buy with price target of $10.

Additionally on 1/31/17 Citigroup “Downgrades” Fitbit Inc (NYSE:FIT) to Sell setting price target at $0 and on 12/08/16 Deutsche Bank “Downgrades” the stock to Hold at $9. Furthermore on 11/16/16 Pacific Crest “Upgrades” the stock to Sector Weight at $0.

On the other hand the company has Relative Strength Index (RSI 14) of 37.35 along with Average True Range (ATR 14) of 0.19, Consequently Fitbit Inc (NYSE:FIT)’s weekly and monthly volatility is 2.55%, 3.64% respectively. The company’s beta value is at 0.

In terms of Buy, Sell or Hold recommendations, Fitbit Inc (NYSE:FIT) has analysts’ mean recommendation of 2.9. This is according to a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell.

According to analysts Fitbit Inc (NYSE:FIT)’s minimum EPS for the current quarter is at $-0.16 and can go high up to $-0.08. The consensus mean EPS for the current quarter is at $-0.15 derived from a total of 19 estimates from the analysts who have weighed in on projected earnings. However the company reported $0.12 earnings per share for the same quarter during last year.

Previously Fitbit Inc (NYSE:FIT) reported $-0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $-0.19 by $0.04. The company posted an earnings surprise of 21.1%.

Fitbit Inc (NYSE:FIT)’s revenue estimates for the current quarter are $341.75 Million according to 16 number of analysts, for the current quarter the company has high revenue estimates of $364.9 Million in contradiction of low revenue estimates of $331.74 Million. For the current year the company’s revenue estimates are $1.61 Billion compared to low analyst estimates of $1.53 Billion and high estimates of $1.72 Billion according to 19 number of analysts.

Currently Fitbit Inc (NYSE:FIT)’s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 57.9%. However the six-month change in the insider ownership was recorded -83.86%, as well as three-month change in the institutional ownership was recorded 8.56%.

Fitbit Inc (NYSE:FIT) 52-week high price stands at $17.18 and low price stands at $5.03, its price distance from 52-week high is -70.55% while its distance from 52-week low price is 0.5%. The stock hit its 52-week high on 09/23/16, and 52-week low on 06/16/17.

Fitbit Inc (NYSE:FIT)’s trailing twelve month revenues are $1.96 Billion, whereas its price to sales ratio for the same period is 0.59. Its book value per share for the most recent quarter is $4.26 while its price to book ratio for the same period is 1.19, as for as the company’s cash per share for the most recent quarter is $3.15, however its price to cash per share ratio for the same period is 1.61. The stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0.

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