Headlines about Fitbit (NYSE:FIT) have trended somewhat negative this week, Alpha One reports. The research group, a unit of Accern, scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Fitbit earned a coverage optimism score of -0.04 on Alpha One’s scale. Alpha One also gave news articles about the scientific and technical instruments company an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news articles that may have effected AlphaOne’s analysis:
- Fitbit : Virginia Man Arrested And Charged In Manhattan Federal Court With $100 Million Market Manipulation Scheme Involving Fitbit Stock (4-traders.com)
- Virginia Man Charged In Fake Fitbit Takeover Offer (wsj.com)
- [$$] Virginia Man Charged In Fake Fitbit Takeover Offer (finance.yahoo.com)
- UPDATE 3-U.S. charges Virginia man in Fitbit stock hoax (feeds.reuters.com)
- GLOBALES: U.S. charges Virginia man with Fitbit stock hoax (entornointeligente.com)
Fitbit (NYSE:FIT) traded up 1.66% on Friday, hitting $5.50. The stock had a trading volume of 7,156,365 shares. Fitbit has a 12 month low of $5.31 and a 12 month high of $17.18. The stock’s market cap is $1.26 billion. The firm’s 50 day moving average price is $5.77 and its 200-day moving average price is $6.83.
Fitbit (NYSE:FIT) last released its quarterly earnings results on Wednesday, May 3rd. 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. The firm had revenue of $298.94 million for the quarter, compared to analyst estimates of $277.48 million. Fitbit had a net margin of 4.67% and a return on equity of 11.94%. On average, analysts forecast that Fitbit will post ($0.35) EPS for the current year.
A number of research firms recently commented on FIT. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 target price on shares of Fitbit in a research report on Thursday, May 4th. Longbow Research reiterated a “neutral” rating on shares of Fitbit in a research report on Tuesday, April 4th. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $9.00 target price on shares of Fitbit in a research report on Monday, May 8th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $7.00 target price on shares of Fitbit in a research report on Friday, April 14th. Finally, Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Monday, May 8th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Fitbit has an average rating of “Hold” and a consensus target price of $10.21.
In other news, Director Steven Joseph Murray sold 173,152 shares of Fitbit stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $6.00, for a total transaction of $1,038,912.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy M. Roberts sold 369,385 shares of Fitbit stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $6.01, for a total transaction of $2,220,003.85. Following the sale, the executive vice president now directly owns 369,385 shares in the company, valued at approximately $2,220,003.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 592,537 shares of company stock worth $3,554,416. Corporate insiders own 37.29% of the company’s stock.
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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