Fitbit, Inc. Class A Common Sto (NYSE:FIT).
Wells Fargo started coverage with an initial rating of “Market Perform”. Equity analyst Wedbush initiated coverage on FIT setting a rating of “Outperform” and a price target of $18.00.
April 21 investment analysts at Cowen & Company held the stock rating at “Market Perform” but lowered the price target from $38.00 to $20.00. On March 31, 2016 Longbow Research initiated coverage giving it an initial rating of “Buy” and price target of $20.00.
On February 24 Barclays left the stock rating at “Overweight” and lowered the price expectation to $24.00 from $49.00.
The company is so far trading up since yesterday’s close of $16.53. Shares are trading at $16.70 which is just a bit higher than $15.33, the 50 day moving average and which is marginally over the 200 day moving average of $14.66. The 50 day moving average was up $1.37 or +8.93% and the 200 day average moved up $2.04.
The company currently has a P/E ratio of 35.23 and market capitalization is 3.71B. As of the last earnings report the EPS was $0.47 and is projected to be $1.18 for the current year with 222,153,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.76 with next year’s EPS projected to be $1.43.