Cascend Securities:Fitbit (FIT) Valuation Insights

May 17, 2018 - By Shawn Hawthorne

Fitbit, Inc. (NYSE:FIT) Logo

How Cascend Securities Currently Rates Fitbit (FIT)

The financial firm Cascend Securities has started coverage on Fitbit (FIT)‘s stock, rating it “Hold”. This was shared with investors and clients in a research note on Thursday morning.

The stock decreased 0.10% or $0.005 during the last trading session, reaching $5.195. About 1.91 million 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: Fool.com which released: “Fitbit’s Growth Engines Are Warming Up” on May 17, 2018, also Seekingalpha.com with their article: “Fitbit Earnings Redux And Possible Future Developments” published on May 05, 2018, Seekingalpha.com published: “Tracking Fitbit’s Health” on May 03, 2018. More interesting news about Fitbit, Inc. (NYSE:FIT) were released by: Investorplace.com and their article: “Fitbit Inc Will Get Boost From Google Deal, Other Catalysts” published on May 10, 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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