Published: Mon, April 16, 2018
Medical | By Johnnie Horton

Fitbit, Inc. (FIT) EPS Estimated At $-0.27 on May, 2

(NYSE:FIT)'s quarterly earnings on May, 2., according to RTT.

Fitbit, Inc. (FIT) stock price recognized negative trend built on latest movement of 200 SMA with -8.11% during the course of recent market activity. Taking a wider observation, the current separation from the one year high is -27.32%, and the distance from the one year low is presently 17.96%. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side research analysts that follow Fitbit. The scientific and technical instruments company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). The company now has a Return on Equity of -31.3% and a Return on Investment of -28.9%. The business had revenue of $570.76 million for the quarter, compared to the consensus estimate of $587.03 million. On Monday, April 2 the firm has "Underweight" rating given by Morgan Stanley. Although the bull-market run in US stocks has stalled since peaking in late January as investors piled out of highflying names, many more volatile investments have continued to climb. Finally, Stifel Nicolaus cut their price objective on Fitbit from $15.00 to $10.00 and set a hold rating for the company in a research report on Thursday, November 3rd. Leerink Swann maintained it with "Outperform" rating and $79 target in Thursday, August 6 report. Six research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have issued a buy recommendation on the company. (NYSE:FIT) to "Hold" rating.

Fitbit Inc. (FIT) closed its previous trading session at $5.32 with the gain of 2.9%. FIT has 4.13 million shares volume. The firm has a market capitalization of $1,107.66, a PE ratio of -8.22 and a beta of 1.92.

The stock is trading -27.32% away from its 52 week high of $7.32 and 17.96% far from the stock's low point over the past 52 weeks, which was $4.51.

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In other news, Director Jon Callaghan sold 15,000 shares of the business's stock in a transaction on Thursday, March 1st. What is market trading price of stock? The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Following the transaction, the executive vice president now directly owns 125,127 shares of the company's stock, valued at $646,906.59. The disclosure for this sale can be found here. Total debt to equity ratio of the company for most recent quarter is 0 whereas long term debt to equity ratio for most recent quarter is 0.

A number of large investors have recently modified their holdings of FIT. NY boosted its stake in shares of Fitbit by 233.9% in the second quarter. On Monday, October 23 the rating was maintained by Cowen & Co with "Hold".

In related news, major shareholder True Venture Partners Ii, L.L. sold 860,000 shares of Fitbit stock in a transaction on Monday, December 5th. Brown Advisory Inc. now owns 769,698 shares of the scientific and technical instruments company's stock worth $5,357,000 after buying an additional 13,270 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in Fitbit by 11.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 150,340 shares of the scientific and technical instruments company's stock worth $858,000 after buying an additional 13,616 shares in the last quarter. Comparatively, FIT posted earnings of $-0.09 per share in the same quarter, a year earlier. Aperio Group LLC bought a new stake in shares of Fitbit during the third quarter worth approximately $199,000. Active investing is an investment strategy involving ongoing buying and selling actions by the investor typically for no more than one day. Institutional investors and hedge funds own 61.49% of the company's stock.

TRADEMARK VIOLATION NOTICE: This news story was reported by Enterprise Leader and is the property of of Enterprise Leader. Fitbit headquartered in San Francisco, California. 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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