Brokerage Firm Rating Update on Fitbit (FIT)

Fitbit (FIT) : Zacks Investment Research ranks Fitbit (FIT) as 3, which is a Hold recommendation. 10 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 22 research analysts is 2, which indicates as a Buy.

Fitbit (FIT) stock is expected to deviate a maximum of $4.99 from the average target price of $21.27 for the short term period. 15 Street Experts have initiated coverage on the stock with the most promising target being $32 and the most muted being $14.


For the current week, the company shares have a recommendation consensus of Buy. Also, Morgan Stanley maintains its rating on Fitbit (NYSE:FIT). The global brokerage major lowers the current price target from $32 per share to $31 per share. Analysts at the Morgan Stanley have a current rating of Overweight on the shares. The rating by the firm was issued on August 3, 2016.

Fitbit (NYSE:FIT): stock was range-bound between the intraday low of $14.69 and the intraday high of $15.38 after having opened at $15 on Wednesdays session. The stock finally closed in the red at $15, a loss of -2.05%. The stock remained in the red for the whole trading day. The total traded volume was 11,748,239 shares. The stock failed to cross $15.38 in Wednesdays trading. The stocks closing price on Thursday was $15.11.

Fitbit, Inc. (Fitbit) is a provider of health and fitness products. The Companys Fitbit 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 fitness plans and interactive workouts. It offers a number of fitness products, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. Its wrist-based and clippable devices automatically track users daily steps, calories burned, distance traveled, floors climbed, and active minutes and display real-time feedback to encourage them to become more active in their daily lives. Fitbit Premium is its membership that serves as an around the clock virtual personal trainer delivered to users through any Web browser. It operates FitStar, a provider of interactive video-based exercise experiences on mobile devices and computers.

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