News coverage about Fitbit (NYSE:FIT) has been trending somewhat positive on Sunday, Accern Sentiment Analysis reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Fitbit earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned media stories about the scientific and technical instruments company an impact score of 44.5620951259287 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Fitbit, Inc. (FIT) Raised to “Sell” at ValuEngine (americanbankingnews.com)
- Ask Fitbit: Bedtime Reminders and Sleep Stages Don’t Always Work. Am I Doing Something Wrong? (4-traders.com)
- Is It Time To Buy Fitbit Inc (FIT)? (finance.yahoo.com)
- Equifax Hack and Tech Stocks in Spotlight after Apple's Keynote (finance.yahoo.com)
- Apple’s September 12 Event: New Products And The Tech Sector’s Push Into Healthcare (finance.yahoo.com)
Shares of Fitbit (NYSE:FIT) traded down 4.22% during midday trading on Friday, hitting $6.59. The stock had a trading volume of 10,684,592 shares. The stock has a 50 day moving average price of $6.53 and a 200-day moving average price of $6.37. The stock’s market capitalization is $1.29 billion. Fitbit has a 52 week low of $4.90 and a 52 week high of $17.18.
Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The business had revenue of $353.30 million for the quarter, compared to analyst estimates of $341.24 million. During the same period last year, the company earned $0.12 EPS. The firm’s revenue was down 39.8% on a year-over-year basis. Equities research analysts anticipate that Fitbit will post ($0.31) earnings per share for the current year.
A number of research analysts have issued reports on the company. Vetr upgraded Fitbit from a “buy” rating to a “strong-buy” rating and set a $5.79 price target for the company in a research report on Wednesday, August 2nd. Cowen and Company set a $6.00 price target on Fitbit and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $8.00 price target on shares of Fitbit in a research report on Monday, June 26th. Morgan Stanley reduced their price target on Fitbit from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Tuesday, August 8th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Fitbit currently has an average rating of “Hold” and an average price target of $7.99.
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In other Fitbit news, Director Jon Callaghan sold 15,000 shares of Fitbit stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $5.09, for a total transaction of $76,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andy Missan sold 5,000 shares of Fitbit stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $5.91, for a total value of $29,550.00. Following the transaction, the executive vice president now owns 71,419 shares in the company, valued at $422,086.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 555,000 shares of company stock worth $3,167,450. Corporate insiders own 29.10% of the company’s stock.
Fitbit Company Profile
Fitbit, Inc is a provider of health and fitness devices. The Company’s 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 customized fitness plans and interactive workouts.
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