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Analysts Ratings for Fitbit Inc. (FIT)

Analysts Ratings for Fitbit Inc. (FIT)

Fitbit Inc (NYSE:FIT) shares traded 1.54% up during most recent session to reach at the closing price of $5.28.

The company's shares plunged some 13% in after-hours trading as the market digested the news. Wall Street analysts covering the stock are projecting that the stock will reach $6.64 within the next 52-weeks. Zacks Investment Research cut Fitbit from a "hold" rating to a "sell" rating in a report on Tuesday. Introduced in 2015, its launch immediately preceded the long slide in Fitbit's share prices.

"We would become further negative on the stock if coming smartwatch launches do not sufficiently improve or differentiate the ecosystem", Morgan Stanley analysts said.

Fitbit Inc. (NYSE:FIT) now has a Weekly Volatility of 3.47% percent while its Monthly Volatility is at 4.19% percent. The company's beta value is at 0.

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Fitbit, Inc. (NYSE:FIT) has declined 60.69% since February 27, 2017 and is downtrending. Adjusted EPS was a loss of United States dollars 0.26 versus a loss of USD 0.12 in 2016. That compares with analysts' average estimate of $588.1 million. According to the Analysts, the Low Estimate Earnings of the current Quarter is $0.1 whereas, High Estimate is $0.2. (NYSE:FIT) news were published by: Nasdaq.com which released: "Fitbit (FIT) Q4 Loss Greater Than Estimated, Revenues Miss" on February 27, 2018, also Fool.com with their article: "3 Reasons Fitbit Inc". The company posted an earnings surprise of 66.7%.

Analysts are expecting average earnings estimates of $0 for the current quarter based on the opinion of 12 analysts, relating to high earnings per share estimates of $0.02 and low estimates of $-0.03, however Fitbit Inc (NYSE:FIT) reported $-0.56 earnings per share for the same quarter previous year. While talking about Performance of the Stock, Fitbit Inc. now has a Weekly performance of 1.28%, monthly performance percentage is 2.21 percent, Quarterly performance is -16.69 percent, 6 months performance shows a percent value of -2.12% and Yearly Performance is -9.92 percent.

The company now has an insider ownership of 0.1 Percent and Institutional ownership of 67.9 Percent. It has also announced collaborations with companies like OneDrop, the growing diabetes tracking company, and just this month it moved to buy medical insights firm Twine Health. Fitbit has a 1 year low of $4.90 and a 1 year high of $7.32. Ring Energy, Inc. now has its 52-Week High range of $16.09, while its 52-week low range is $9.22.

For the twelve months period, FIT disclosed net loss of $ 277.19 million or $ 1.19 per share from the revenue of $ 1.62 billion. It's rolled out its own smartwatches to try to attract a wider consumer base and Chief Executive Officer James Park is trying to transform Fitbit into a digital-health company that relies less on consumers and more on corporate wellness.


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