News stories about Fitbit (NYSE:FIT) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fitbit earned a media sentiment score of 0.24 on Accern’s scale. Accern also gave news articles about the scientific and technical instruments company an impact score of 44.8039629858553 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s rankings:
- Fitbit Inc (FIT) Receives Average Rating of “Hold” from Analysts (americanbankingnews.com)
- Why Fitbit Inc Stock Could Easily Surge 20% or More (investorplace.com)
- What the Fitbit Ionic's First Update Means for Investors (finance.yahoo.com)
- A complete guide to setting up your new Fitbit this Christmas and New Year (trustedreviews.com)
- Apple, Inc. Reportedly Looking to Add EKG Heart Monitor to Apple Watch (finance.yahoo.com)
A number of brokerages have issued reports on FIT. Cleveland Research restated a “hold” rating on shares of Fitbit in a research report on Thursday, December 21st. ValuEngine downgraded Fitbit from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Stifel Nicolaus downgraded Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price objective on the stock. in a research report on Friday, December 15th. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Monday, October 30th. Finally, Cowen set a $6.00 price objective on Fitbit and gave the company a “hold” rating in a research report on Monday, October 23rd. Five equities 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’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.94.
Fitbit (NYSE:FIT) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $392.50 million for the quarter, compared to analysts’ expectations of $391.70 million. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. The company’s quarterly revenue was down 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. equities analysts predict that Fitbit will post -0.49 earnings per share for the current fiscal year.
In related news, EVP Andy Missan sold 5,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $6.89, for a total value of $34,450.00. Following the transaction, the executive vice president now owns 105,133 shares of the company’s stock, valued at $724,366.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $6.81, for a total value of $102,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,026,841 shares of company stock worth $6,287,854. Insiders own 29.10% 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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