Yet Another Research Firm has Initiated Coverage on Fitbit (FIT)

May 17, 2018 - By Larry Park

Fitbit, Inc. (NYSE:FIT) Logo

How Cascend Securities Currently Rates Fitbit (FIT)

Cascend Securities shared with investors and clients in a recent report that it started coverage on Fitbit (FIT) stock, with “Hold” rating.

The stock decreased 0.10% or $0.005 during the last trading session, reaching $5.195. About 1.91M shares traded. Fitbit, Inc. (FIT) has declined 14.24% since May 17, 2017 and is downtrending. It has underperformed by 25.79% the S&P500.

Analysts await Fitbit, Inc. (NYSE:FIT) to report earnings on August, 1. They expect $-0.31 earnings per share, down 72.22 % or $0.13 from last year’s $-0.18 per share. After $-0.27 actual earnings per share reported by Fitbit, Inc. for the previous quarter, Wall Street now forecasts 14.81 % negative EPS growth.

Fitbit, Inc. designs and sells connected health and fitness tracking devices. The company has market cap of $1.25 billion. The firm offers Fitbit Zip, an entry-level wireless activity tracker that allows users to track daily activity statistics, such as steps, distance, calories burned, and active minutes; Fitbit One, a clippable wireless tracker, which tracks floors climbed and sleep, as well as daily steps, distance, calories burned, and active minutes; and Fitbit Flex 2, a water-resistant fitness wristband that tracks pool swims comprising laps, duration, and calories burned in the Fitbit App. It currently has negative earnings. It also provides Fitbit Alta, a customizable wristband that offers call, text, and calendar notifications when paired with the userÂ’s phone and SmartTrack automatic exercise recognition; Fitbit Charge 2, a wireless heart rate and activity wristband; Fitbit Blaze, a smart fitness watch that provides multi-sport functionality, tracks outdoor cycling activity, and run cues; and Fitbit Surge, a fitness watch that features a GPS watch, heart rate tracker, activity tracker, and smartwatch.

More notable recent Fitbit, Inc. (NYSE:FIT) news were published by: Seekingalpha.com which released: “Fitbit Earnings Redux And Possible Future Developments” on May 05, 2018, also Fool.com with their article: “Fitbit’s Growth Engines Are Warming Up” published on May 17, 2018, Seekingalpha.com published: “Fitbit: Bullish But Not Buying Yet” on May 07, 2018. More interesting news about Fitbit, Inc. (NYSE:FIT) were released by: Seekingalpha.com and their article: “Tracking Fitbit’s Health” published on May 03, 2018 as well as Nasdaq.com‘s news article titled: “Fitbit Moves One Step Closer to Becoming a Legit Heathcare Player” with publication date: May 13, 2018.

Fitbit, Inc. (NYSE:FIT) Ratings Chart

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