Fitbit (FIT) : Analyst Rating Update

Fitbit (FIT) has an average broker rating of 2, which is interpreted as a Buy, as rated by 22 equity analysts. Nonetheless, 10 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 10 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Fitbit (FIT) : 16 Wall Street analysts covering Fitbit (FIT) believe that the average level the stock could reach for the short term is $21.75. The maximum price target given is $32 and the minimum target for short term is around $16, hence the standard deviation is calculated at $4.73.

Fitbit (NYSE:FIT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.20 and $12.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.54. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.51, notching a gain of 1.62% for the day. The total traded volume was 7,739,085 . The stock had closed at $12.31 on the previous day.

Also, Wedbush initiates coverage on Fitbit (NYSE:FIT). The current rating of the shares is Outperform, according to the research report released by the firm. The brokerage firm announces the price target at $18 per share. The rating by the firm was issued on June 9, 2016.

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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