Brokers Recommendations on: Fitbit Inc. (FIT)

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Nine analysts have made estimates for Fitbit's earnings, with the highest sales estimate coming in at $346.50 million and the lowest estimate coming in at $331.74 million. For the most recent quarter, quick ratio was 1.9, current ratio was 2.3, LT Debt/Equity ratio was 0 and Total Debt/Equity ratio was 0. Similarly, the company's last 5 years high P/E ratio is 0 and low P/E is 0, whereas, the industry's and sector's high P/E for the past year is 11.45 and 23.1 respectively and low P/E ratio for the last 5 years is 6.94 for the industry and 9.63 for the Sector. The legal version of this news story can be accessed at https://sportsperspectives.com/2017/07/13/state-board-of-administration-of-florida-retirement-system-holds-position-in-fitbit-inc-fit-updated-updated.html. The scientific and technical instruments company reported ($0.15) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.25) by $0.10.

So the company beats the analysts estimate by $0.04/share showing a surprise of 21.1%. On the other hand, if the market value of the stock exceeds the fair value of the stock, then analysts recommend that the stock be sold. Vetr cut shares of Fitbit from a "buy" rating to a "sell" rating and set a $4.83 price target for the company.in a research report on Wednesday. Finally, BidaskClub lowered shares of Fitbit from a "sell" rating to a "strong sell" rating in a research report on Wednesday. Analysts set a 12-month price target of $39.79 a share.

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The collective rating of 2.3 for Monsanto Company (NYSE:MON) also leans strongly towards the neutral end of the spectrum. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. The average 1-year price target for (FIT) reveals an average price target of $7.08 per share. The company had a trading volume of 10,636,148 shares. Its book value per share for the most recent quarter is $4.26 while its price to book ratio for the same period is 1.26, as for as the company's cash per share for the most recent quarter is $3.12, however its price to cash per share ratio for the same period is 1.72. Following the completion of the transaction, the executive vice president now directly owns 62,702 shares in the company, valued at $349,250.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

In other Fitbit news, Director Steven Joseph Murray sold 500,000 shares of the business's stock in a transaction dated Friday, May 26th. The shares were acquired at an average price of $5.39 per share, for a total transaction of $134,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 525,000 shares of company stock valued at $2,800,350.

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Hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC purchased a new position in shares of Fitbit during the first quarter valued at $185,000. Amerigo Asset Management acquired a new stake in Fitbit during the first quarter valued at $13,983,000. Allianz Asset Management AG bought a new position in Fitbit during the fourth quarter valued at about $146,000. Kissinger Financial Services LLC purchased a new position in shares of Fitbit during the second quarter valued at $153,000. Institutional investors and hedge funds own 52.65% of the company's stock.

ILLEGAL ACTIVITY NOTICE: This piece was reported by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece of content on another site, it was copied illegally and republished in violation of United States & global copyright and trademark laws. The company has market cap of $1.33 billion. Fitbit, Inc.is now trading 0.51% above its 20-day and -31.38% versus the 200-day simple moving averages while -4.28% compared with its 50-day simple moving average. Recently, the equity stands -68.13% away from the 52-week high and 11.73% from the 52-week low.

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