Fitbit (FIT) Getting Somewhat Favorable News Coverage, Study Shows

News coverage about Fitbit (NYSE:FIT) has trended somewhat positive this week, Accern Sentiment Analysis reports. The research firm identifies positive and negative news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Fitbit earned a coverage optimism score of 0.18 on Accern’s scale. Accern also gave news stories about the scientific and technical instruments company an impact score of 45.0310072403308 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

These are some of the media headlines that may have impacted Accern Sentiment’s scoring:

Several research analysts have recently commented on FIT shares. ValuEngine lowered Fitbit from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Vetr upgraded Fitbit from a “sell” rating to a “hold” rating and set a $5.55 price target on the stock in a report on Monday, July 17th. BidaskClub upgraded Fitbit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Morgan Stanley reduced their price target on Fitbit from $7.00 to $6.50 and set an “equal weight” rating on the stock in a report on Monday, July 31st. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Fitbit in a report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.30.

Fitbit (NYSE FIT) traded up $0.12 during midday trading on Friday, reaching $5.93. The company’s stock had a trading volume of 3,998,213 shares, compared to its average volume of 7,869,101. Fitbit has a 52 week low of $4.90 and a 52 week high of $9.75.

Fitbit (NYSE:FIT) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $392.50 million during the quarter, compared to the consensus estimate of $391.70 million. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. Fitbit’s revenue was down 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. equities research analysts anticipate that Fitbit will post -0.49 earnings per share for the current year.

In other news, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $5.90, for a total transaction of $88,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $6.29, for a total value of $31,450.00. Following the transaction, the executive vice president now directly owns 109,475 shares of the company’s stock, valued at $688,597.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,000 shares of company stock valued at $556,650. Corporate insiders own 29.10% of the company’s stock.

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About Fitbit

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.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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