Published: Mon, October 09, 2017
Markets | By Terence Owen

Analyst Scores Summary: Fitbit, Inc. (FIT), Zogenix, Inc. (ZGNX)

ValuEngine raised shares of Fitbit from a "strong sell" rating to a "sell" rating in a report on Tuesday, August 1st. (NYSE:FIT) in a research report released on Wednesday morning. The firm now has a $8.00 price target on the scientific and technical instruments company's stock.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research lowered shares of Fitbit from a "buy" rating to a "hold" rating in a research note on Wednesday, September 13th. Finally, Deutsche Bank AG dropped their target price on Fitbit from $6.50 to $5.50 and set a hold rating for the company in a report on Thursday, August 3rd. The stock exchanged hands 5.36 Million shares versus average trading capacity of 6.92 Million shares, yielding a market cap of $1.49 Billion.

In other Fitbit news, EVP Andy Missan sold 50,000 shares of Fitbit stock in a transaction dated Tuesday, March 7th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the stock. Fitbit now has a consensus rating of Hold and an average target price of $7.45.

Shares of Fitbit (FIT) traded down 0.92% during mid-day trading on Wednesday, reaching $6.46.

Fitbit Inc. (NYSE:FIT) touched its 1-Year High price of $15.05 on 10/06/16 and its 1-Year Low price of $ 4.90 on 06/22/17. The company operates in the Technology sector with a market capitalization of 1.51 Million.

Fitbit (NYSE:FIT) last issued its quarterly earnings data 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. The business had revenue of $353.30 million for the quarter, compared to the consensus estimate of $341.24 million.

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Quarterly Revenue Growth on year-over-year basis stands at -39.8 percent. 3247850 shares were traded on Fitbit's last session. On average, equities research analysts expect that Fitbit, Inc. will post ($0.31) EPS for the current year.

Fitbit Inc. (FIT) has an Analysts' Mean Recommendation of 2.9. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & global copyright law. (And Implications For Fitbit)" with publication date: "October 05, 2017. The Average True Range (ATR) shows a value of 0.28. Following the transaction, the executive vice president now directly owns 110,133 shares in the company, valued at $770,931. The stock was sold at an average price of $5.73, for a total transaction of $2,865,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 580,000 shares of company stock worth $3,366,150 in the last three months. Long-term investors should review current trend forecasts and yearly or five-year trend graphs to understand whether the stock is bearish or bullish or to determine whether the company is performing well.

Several hedge funds have recently modified their holdings of FIT. Swiss National Bank now owns 238,200 shares of the scientific and technical instruments company's stock worth $1,410,000 after buying an additional 22,300 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Fitbit by 15.6% in the second quarter. Quinn Opportunity Partners LLC now owns 2,573,690 shares of the scientific and technical instruments company's stock valued at $13,666,000 after purchasing an additional 75,100 shares during the last quarter.

Fitbit unveiled the Ionic smartwatch on August 28, highlighting features including a four-day battery life, new health-tracking technologies, and contactless payments.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 8.92%, and has a solid year to date (YTD) performance of -10.93% which means that the stock is constantly adding to its value from the previous fiscal year end price. State Street Corp increased its stake in Fitbit by 68.0% in the second quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company's stock valued at $86,832,000 after purchasing an additional 5,989,005 shares during the last quarter. Finally, UBS Oconnor LLC bought a new stake in Fitbit during the 1st quarter worth about $1,480,000. Oppenheimer & Co. Inc. now owns 40,063 shares of the scientific and technical instruments company's stock valued at $213,000 after buying an additional 4,150 shares during the period.

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