Wednesday, 21 November, 2018

Fitbit (FIT) Posts Earnings Results, Beats Expectations By $0.05 EPS

Celia Hoffman | 05 November, 2018, 18:23

(NYSE:FIT) will test short term resistance at around $6.27. Xact Kapitalforvaltning AB boosted its position in shares of Fitbit by 69.7% during the first quarter. Xact Kapitalforvaltning AB now owns 32,678 shares of the scientific and technical instruments company's stock worth $213,000 after buying an additional 7,600 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in Fitbit by 2.8% during the second quarter. They now have $7.00 target price on the scientific and technical instruments company's stock. Point72 Hong Kong Ltd bought a new position in shares of Fitbit during the second quarter worth $127,000. Finally, Swiss National Bank increased its holdings in shares of Fitbit by 11.2% during the 2nd quarter. Following this activity, the insider holds 6,220,000 shares worth $6,358,225 as of recent close.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company.

On the other hand the company has Relative Strength Index (RSI 14) of 68.17 along with Average True Range (ATR 14) of 0.36, Consequently Fitbit Inc (NYSE:FIT)'s weekly and monthly volatility is 8.94%, 6.42% respectively. On Thursday, August 2 the rating was maintained by Stifel Nicolaus with "Hold". ValuEngine cut shares of Fitbit from a strong-buy rating to a buy rating in a report on Friday, June 29th. In Thursday, June 7 report Wedbush maintained the stock with "Hold" rating. Robert W. Baird reissued a "hold" rating and set a $6.00 price target on shares of Fitbit in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company.

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This company's 100-day moving average was 5.85, while its price change was posted at -1.64. (FIT) and ..." on November 02, 2018, "A Preview Of Fitbit's Q3 Earnings" with a publish date: "October 31, 2018, "What Happened in the Stock Market Today" and the last "76 Biggest Movers From Yesterday" with publication date: "November 02, 2018.

Fitbit Inc (NYSE:FIT)'s trailing twelve month revenues are $1.51 Billion, whereas its price to sales ratio for the same period is 0.97. Since May 3, 2018 according to StockzIntelligence Inc Fitbit has 7 analyst reports. The firm offers Fitbit Zip, an entry-level wireless activity tracker that allows users to track daily activity statistics, such as steps, distance, calories burned, and active minutes; Fitbit One, a clippable wireless tracker, which tracks floors climbed and sleep, as well as daily steps, distance, calories burned, and active minutes; and Fitbit Flex 2, a water-resistant fitness wristband that tracks pool swims comprising laps, duration, and calories burned in the Fitbit App.Last it reported negative earnings. The consensus mean EPS for the current quarter is at $0.07 derived from a total of 11 estimates from the analysts who have weighed in on projected earnings. The company had revenue of $393.60 million for the quarter, compared to the consensus estimate of $381.25 million. Fitbit had a negative return on equity of 25.74% and a negative net margin of 23.70%. William Blair analyst J. Garro now expects that the scientific and technical instruments company will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.02. Fitbit updated its Q4 2018 guidance to $0.07 EPS and its FY 2018 guidance to EPS. The average price target of $6.5 calls for a almost 6.56% increase in the stock price.

Market capitalization (market cap) is the market value of a publicly traded company's outstanding shares. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andy Missan sold 10,000 shares of the business's stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $4.76, for a total value of $35,700.00. Following the sale, the executive vice president now owns 161,881 shares in the company, valued at $961,573.14.

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