Shares of Fitbit Inc (NYSE:FIT) have earned a consensus rating of “Hold” from the twenty-one brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.85.
A number of research firms recently weighed in on FIT. Morgan Stanley set a $6.00 target price on shares of Fitbit and gave the company a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research report on Monday, October 30th. Stifel Nicolaus reissued a “hold” rating and issued a $6.00 price objective on shares of Fitbit in a research report on Friday, November 3rd. Cleveland Research reissued a “hold” rating on shares of Fitbit in a research report on Thursday, December 21st. Finally, Cowen set a $6.00 price objective on shares of Fitbit and gave the company a “hold” rating in a research report on Monday, October 23rd.
Fitbit (FIT) traded up $0.06 during trading on Wednesday, reaching $5.47. 3,732,700 shares of the company were exchanged, compared to its average volume of 5,762,109. The company has a market capitalization of $1,300.00 and a P/E ratio of -3.32. Fitbit has a 1-year low of $4.90 and a 1-year high of $7.32.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BB&T Securities LLC acquired a new stake in shares of Fitbit during the 3rd quarter worth about $116,000. Investors Research Corp acquired a new stake in shares of Fitbit during the 4th quarter worth about $101,000. Principal Financial Group Inc. acquired a new stake in shares of Fitbit during the 2nd quarter worth about $114,000. Amalgamated Bank lifted its stake in shares of Fitbit by 20.1% during the 2nd quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 3,698 shares during the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new stake in shares of Fitbit during the 3rd quarter worth about $154,000. Institutional investors own 62.53% of the company’s stock.
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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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