Fitbit, Inc. (FIT): Puzzling Price Reaction
The stock of Fitbit, Inc. (NYSE:FIT) has been Upgraded to Buy from Neutral by DA Davidson in its latest research note that was published on February 28. FIT was given a price target of $7 by DA Davidson, with other Wall Street analysts also giving their reports regarding the stock. Wedbush analysts have downgraded their rating of FIT stock from Outperform to Neutral in a separate flash note to investors on February 22. Analysts at Wedbush issued an upgrade fromNeutral to Outperform for the stock, in a research note that dated back to October 12.
Fitbit,'s stock is covered by 10 analyst(s), with 3 of them rating the stock as Buy. It has been deemed to have Strong Buy by none of the analyst(s), 5 of them have rated it as a Hold while 2 of them rated it as Sell. The situation was different a month ago when the stock was rated as a Buy by only none analyst(s). none of them rated it as Strong Buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a Sell. The above data shows that FIT has an average analyst rating of Hold.
Fitbit, Inc., which has current market capitalization of above $948 Million, published its last quarter earnings on June 30, 2019. The company was able to amass $314 Million in revenue that saw a quarterly growth rate of 5.15%. During the last reported quarter of the year, the company also recorded $-0.22 earnings per share (EPS) which is $0.03 above the $-0.25 estimated by analyst, leading to a surprise factor of 12%.
FIT surged by $0.85 during the normal trading session on Friday and reaching a high of $4.52 during the day while it closed the day at $4.10. The Fitbit, stock had a high trading volume of 27.29 million shares on that day, which is high compared to the average daily volume of 5.09M shares. FIT has also gained 9.33% of its value over the past 7 days. However, the stock has declined by 8.48% in the 3 months of the year. Over the past six months meanwhile, it has lost 29.67% while it has lost 17.51% year-on date. Let us now take a look at the stock's potential support and resistance levels. The publicly traded company was seen to have slipped by -10.68% from its 3 months high price. However, taking another look at FIT will indicate that it is trading +45.91% away from its 90-day low. Looking at the bigger picture, the Fitbit, Inc. stock has dropped by -41.09% from its 52-week high while it has surged by +45.91% from its 52-week low price.
On June 10, 2019 MISSAN ANDY, EVP, General Counsel, Sect. sold 5000 shares of the company. The average price for that transaction was $4.49 per share, which meant that MISSAN ANDY earned $22450 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with EVP, General Counsel, Sect., MISSAN ANDY selling 2594 shares of this stock on May 16, 2019. The average selling price for the stock was $5.02 per share, with the sold stock accruing $13021.88. Following this transaction, the EVP, General Counsel, Sect. MISSAN ANDY now holds 173691 shares of the company, which is worth around $637446.
Let us now take a quick look at the stock's short, medium and long-term indicators. Composite Indicator shows that FIT stock was rated as a Buy by TrendSpotter. Its short-term indicators reveal that Fitbit, has a 20-day average volume of 5825755 shares. This has led to the FIT price forecast being placed as a : 50%Sell on an average basis. In the medium term, however, the FIT stock has its 50-Day average volume of 5867862 shares, with the indicators also rating it as a : 50%Sell. Finally, in the long-term, the FIT stocks have a 100-Day average volume of 5337068 shares, with the long-term indicators rating the stock as just 100%Sell.
Fitbit, has around 335 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $543 Billion. The Fitbit, stock is bringing in revenue of over 12 months, which is roughly 314 Billion. Despite all that, Fitbit, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 4.75%.
Looking at the stock's Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 75.44%. This figure is worse than the company's 20-day Raw Stochastic average which currently stands at 75.44%. Over the past 20 days, Fitbit,'s Stochastic %K stood at 81.84% while its Stochastic %D was revealed to be 85.54%.
MISSAN ANDY, EVP, General Counsel, Sect., subtracted 5,000 shares of Fitbit, Inc. (FIT) from its portfolio at the rate of $4.49 per share valuing $22,430 on Jun 10. The insider left behind 109,414 shares of
On September 20, 2019, Fitbit, Inc. (NYSE:FIT) shares gained 11.72% or 0.43 points to close at $4.1 with a thin trading volume of 27.295 million shares. It opened the trading session at $3.66, the shares
Fitbit (FIT): Fitbit (FIT) share price plunged -2.65% and ceased at $3.67 after the market close on Thursday. FIT trading volume reached to 3197532 shares as compared to its
Investors may be watching the technical signals on shares of Fitbit Inc (FIT). Looking at the 50-day moving average vs price signal, the reading is measured at Buy. This indicator is used to watch price
Fitbit has revealed its newest smartwatch that offers a very long battery life, has Alexa as its digital assistant, and allows users to control audio playback. Fitbit, known for its health and fitness oriented wearables, has
Fitbit, last year in May, launched the Fitbit Versa for Rs 19,999 in India. And now nearly a year later, the fitness giant has introduced Versa successor - the Fitbit Versa 2 - in
Fitbit Versa 2 has been launched in India, which is a sequel to last year's model. The latest Fitbit fitness smartwatch comes with a swim-proof design and is priced at Rs 20,999. This price is
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