On December 03, 2019, Fitbit, Inc. (NYSE:FIT) shares lost -0.15% or -0.01 points to close at $6.86 with a thin trading volume of 4.243 million shares. It opened the trading session at $6.85, the shares rose to $6.88 and dropped to $6.84, the range by which the price of stock traded the whole day. The company now has a market cap of $1.81 billion and currently has 264.24 million outstanding shares. Fitbit, Inc. (FIT) stock has plunged -3.92 percent of market value in 21 trading days.
FIT stock’s trailing 3-year beta is 1.77, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.72 share in the trailing 52 weeks. The stock’s value surged 38.03 percent year to date (YTD) compared to a rise of 24.5 percent in 52 week’s period. The firm’s shares are still trading -5.51 percent below its 1-year high of $7.26 and 144.13 percent up from 52-week low of $2.81. The average consensus ranking on the company is 3, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a hold.
Fitbit, Inc. (FIT) is most likely going to rise 7.14 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $7.35-month high price target. This represents a whopping 7.14 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $7.35, which means a return possibility of 7.14 percent in comparison with the closing price of the stock of $6.86 on December 03. The lowest price set for the stock is $7.35 — just above 7.14 percent from FIT share price now.
Past records have indicated that shares in Fitbit, Inc. declined on 12 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings.
Let’s take a glimpse at some insider activity at Fitbit, Inc. (NYSE:FIT) and observe the pattern. The earliest insider trade happened on 06/10/2019. MISSAN ANDY parted with a total of 5 thousand shares of the firm at average share price of $4.49. The total amount for the sale was set at $22.45 thousand. On completing this exchange, the EVP, General Counsel, Sect. account balance was 109.41 thousand shares. The stock grew 53.01 percent from that insider sale. On 05/16/2019, MISSAN ANDY, EVP, General Counsel, Sect., did a sale of 2.59 thousand shares at a price of $5.02 per share. This got rid of 13.02 thousand shares from the insider’s fortune and the stock experienced a 36.85 percent rally in price since the news became public. This exchange saw 109.41 thousand shares get out from the EVP, General Counsel, Sect. account.
On 05/10/2019, EVP, General Counsel, Sect. MISSAN ANDY recorded a sale transaction valued at $37.43 thousand. The sale at $4.99 a share has eliminated 7.5 thousand shares from the insider’s portfolio position. Meanwhile, shares price witnessed 37.68 percent increase since the transaction reporting date. The company insider is left with 109.41 thousand shares remaining in the account. MISSAN ANDY, who works as EVP, General Counsel, Sect. at the company, performed a sale of 7.5 thousand shares in a transaction worth $43.88 thousand. The disposal recorded on 04/10/2019 was priced at $5.85 per share. The stock price soared 17.44 percent since the transaction. MISSAN ANDY currently holds a stake of 103.42 thousand in FIT stock which is worth $709.44 thousand after the insider selling.
The stock is lingering around the initial support level of $6.84. After this, the following support is at the zone of $6.82. Up until the time the FIT stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 64.16 on the daily chart, and this may be a cause for concern. In case the price goes below $6.82 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $6.88 level may cause a pull-back move approaching $6.9 mark.
The industry FIT deals with has an average P/E of 23.9. Its P/B ratio is standing at 3X compared to the 3.9 industry average. It is additionally sporting a 1.2 on the Price-to-Sales ratio, compared to the industry’s P/S average of 3.4. Fitbit, Inc. has a 34.7% gross profit margin, with its operating margin around -12.9%. Alongside this, the company’s net profit margin currently stands at -12.3%.