Fitbit, Inc. (NYSE:FIT) will be announcing its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of ($0.04) per share for the quarter. Fitbit has set its Q3 guidance at ($0.05-0.02) EPS and its FY17 guidance at ($0.40-0.22) EPS.
Fitbit (NYSE:FIT) last released its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.67%. The firm had revenue of $353.30 million during the quarter, compared to analyst estimates of $341.24 million. During the same quarter in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was down 39.8% compared to the same quarter last year. On average, analysts expect Fitbit to post $-0.52 EPS for the current fiscal year and $-0.5 EPS for the next fiscal year.
Shares of Fitbit, Inc. (FIT) opened at 6.06 on Friday. Fitbit, Inc. has a 12-month low of $5.62 and a 12-month high of $13.52. The firm’s market cap is $1.41 billion. The firm’s 50-day moving average is $6.46 and its 200-day moving average is $6.46.
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Several equities analysts have issued reports on FIT shares. Cowen and Company set a $6.00 price target on shares of Fitbit and gave the company a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley upped their price target on shares of Fitbit from $6.50 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Vetr upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.67 price target for the company in a research report on Thursday, October 19th. Zacks Investment Research cut shares of Fitbit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $8.00 price target on shares of Fitbit in a research report on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.47.
In related news, Director Jon Callaghan sold 15,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $5.09, for a total transaction of $76,350.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Andy Missan sold 5,000 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $5.68, for a total transaction of $28,400.00. Following the transaction, the executive vice president now directly owns 80,332 shares in the company, valued at $456,285.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 585,000 shares of company stock worth $3,400,600. 29.10% of the stock is owned by insiders.
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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