Fitbit (FIT) Earns Daily News Impact Rating of 0.22
News headlines about Fitbit (NYSE:FIT) have been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Fitbit earned a media sentiment score of 0.22 on Accern’s scale. Accern also gave media coverage about the scientific and technical instruments company an impact score of 44.3693568143681 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern’s rankings:
- Gauging GoPro’s and Fitbit’s Future Earnings and Revenue Growth Potential (finance.yahoo.com)
- Fitbit Is Said to Consider Developing Smartwatch for Kids (bloombergquint.com)
- Fitbit, Investors Reach $33M Deal In Stock-Drop Suit (law360.com)
- A Look at Expected Growth for the Apple Watch in 2018 (finance.yahoo.com)
- Why Garmin's Stock Gained 23% in 2017 (finance.yahoo.com)
Several equities analysts have weighed in on the company. Roth Capital assumed coverage on Fitbit in a research note on Friday, January 5th. They set a “buy” rating and a $10.00 target price on the stock. Morgan Stanley set a $6.00 target price on Fitbit and gave the company a “hold” rating in a research note on Friday, January 5th. Cleveland Research reaffirmed a “hold” rating on shares of Fitbit in a research note on Thursday, December 21st. ValuEngine cut Fitbit from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Finally, Stifel Nicolaus cut Fitbit from a “hold” rating to a “sell” rating and set a $6.00 target price on the stock. in a research note on Friday, December 15th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.05.
Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. The firm had revenue of $392.50 million during the quarter, compared to analyst estimates of $391.70 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. equities research analysts forecast that Fitbit will post -0.49 EPS for the current year.
In other news, Director Steven Joseph Murray sold 966,641 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $6.09, for a total transaction of $5,886,843.69. Following the completion of the transaction, the director now directly owns 11,442 shares in the company, valued at $69,681.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Andy Missan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $5.90, for a total value of $29,500.00. Following the transaction, the executive vice president now owns 119,981 shares of the company’s stock, valued at $707,887.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,026,841 shares of company stock valued at $6,268,204. Corporate insiders own 29.10% of the company’s stock.
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Fitbit Company Profile
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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