Fitbit Inc (FIT) Updates Q2 Earnings Guidance

Posted June 03, 2017

A stock experiencing a high level of volatility has a higher ATR, and a low volatility stock has a lower ATR. Oppenheimer Holdings Inc. reaffirmed an "outperform" rating on shares of Fitbit in a research note on Wednesday, February 1st. The stock has a 50 day moving average of $5.71 and a 200-day moving average of $6.57. The company provided earnings per share guidance of ($0.17)-($0.14) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.11). Finally, SunTrust Banks, Inc. reaffirmed a "hold" rating and set a $7.00 price target on shares of Fitbit in a research note on Wednesday, February 22nd. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

A number of brokerages have recently issued reports on FIT. Credit Suisse AG now owns 473,673 shares of the scientific and technical instruments company's stock valued at $2,804,000 after buying an additional 284,410 shares during the last quarter. The market capitalization of the company is at $1.29 Billion. They now have a Dollars 7 price target on the stock. Also, EVP Andy Missan sold 50,000 shares of the business's stock in a transaction on Tuesday, March 7th. The company now has an average rating of Hold and a consensus price target of $8.92. Zacks Investment Research cut Fitbit from a hold rating to a sell rating in a research report on Monday, January 9th.

Fitbit (NYSE:FIT) last issued its quarterly earnings data on Wednesday, May 3rd.

The stock volatility for week was 5.20% while for month was 4.48%.The stock, as of last close, traded 10.63% to its 52 week low and was changed -67.58% from its 52 week high. However the company reported $0.12 earnings per share for the same quarter during past year.

Shares of Fitbit (NYSE:FIT) traded down 1.48% during mid-day trading on Tuesday, hitting $5.31. A total of 11.9 million shares exchanged at hands and its average trading volume is standing at 8.05 million shares. The shares were sold at an average price of $5.91, for a total value of $295,500.00. Following the sale, the executive vice president now directly owns 105,000 shares in the company, valued at approximately $620,550. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company.

Kosmos Energy Ltd. (KOS) shows its Return on Assets (ROA) value of -7.7 percent, while the Return on Equity (ROE) value is -22.8 percent and Return on Investment (ROI) value stands at -11.1 percent. After $-0.25 actual EPS reported by Fitbit Inc for the previous quarter, Wall Street now forecasts -28.00% EPS growth. If you are viewing this piece of content on another site, it was copied illegally and republished in violation of USA and global copyright and trademark legislation. The legal version of this report can be viewed at https://www.thestockobserver.com/2017/06/01/firsthand-capital-management-inc-maintains-stake-in-fitbit-inc-fit.html. (FIT) are trading -67.58% downward from the 52-week high mark and 10.63% above from the fifty two-week low mark. The company has its outstanding shares of 91.80 million. Following the completion of the transaction, the director now directly owns 11,442 shares of the company's stock, valued at approximately $60,985.86. UBS Asset Management Americas Inc. boosted its position in shares of Fitbit by 5.8% in the first quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Fitbit by 408.8% in the third quarter. The disclosure for this sale can be found here.

By historical standards, Fitbit, Inc. remains a cheap stock. In the last ninety days, insiders have sold 723,152 shares of company stock worth $3,999,412. Insiders own 37.29% of the company's stock.