Fitbit Inc. [NYSE: FIT] surged by $0.11 during the normal trading session on Monday and reaching a high of $6.24 during the day while it closed the day at $6.22. Fitbit Inc. stock has also loss -1.43% of its value over the past 7 days. However, FIT stock has declined by 0.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -6.61% and lost -5.33% year-on date.
The market cap for FIT stock reached $1.66 billion, with 265.66 million shares outstanding and 234.51 million shares in the current float. Compared to the average trading volume of 6.84M shares, FIT reached a trading volume of 4314714 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Fitbit Inc. [FIT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FIT shares is $7.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FIT stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DA Davidson have made an estimate for Fitbit Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 28, 2019. The new note on the price target was released on February 22, 2019, representing the official price target for Fitbit Inc. stock.
The Average True Range (ATR) for Fitbit Inc. is set at 0.14, with the Price to Sales ratio for FIT stock in the period of the last 12 months amounting to 1.23. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 1.60.
FIT stock trade performance evaluation
Fitbit Inc. [FIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.43. With this latest performance, FIT shares dropped by -4.75% in over the last four-week period, additionally sinking by -6.61% over the last 6 months – not to mention a rise of 39.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FIT stock in for the last two-week period is set at 40.82, with the RSI for the last a single of trading hit 42.92, and the three-weeks RSI is set at 42.24 for Fitbit Inc. [FIT]. The present Moving Average for the last 50 days of trading for this stock 6.56, while it was recorded at 6.16 for the last single week of trading, and 5.99 for the last 200 days.
Fitbit Inc. [FIT]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Fitbit Inc. [FIT] shares currently have an operating margin of -18.84 and a Gross Margin at +30.16. Fitbit Inc.’s Net Margin is presently recorded at -22.35.
Return on Total Capital for FIT is now -41.07, given the latest momentum, and Return on Invested Capital for the company is -49.68. Return on Equity for this stock declined to -52.44, with Return on Assets sitting at -22.24. When it comes to the capital structure of this company, Fitbit Inc. [FIT] has a Total Debt to Total Equity ratio set at 19.04. Additionally, FIT Total Debt to Total Capital is recorded at 16.00, with Total Debt to Total Assets ending up at 6.78. Long-Term Debt to Equity for the company is recorded at 13.94, with the Long-Term Debt to Total Capital now at 11.71.
Reflecting on the efficiency of the workforce at the company, Fitbit Inc. [FIT] managed to generate an average of -$190,446 per employee. Receivables Turnover for the company is 3.35 with a Total Asset Turnover recorded at a value of 1.00.Fitbit Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.70.
Earnings per share (EPS) analysis for Fitbit Inc. [FIT] stock
With the latest financial reports released by the company, Fitbit Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Fitbit Inc. go to 22.50%.
Fitbit Inc. [FIT]: Insider Ownership positions
There are presently around $1,269 million, or 91.10% of FIT stock, in the hands of institutional investors. The top three institutional holders of FIT stocks are: VANGUARD GROUP INC with ownership of 22,578,956, which is approximately 4.561% of the company’s market cap and around 0.40% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 19,209,997 shares of the stock with an approximate value of $117.37 million in FIT stocks shares; and BLACKROCK INC., currently with $100.46 million in FIT stock with ownership of nearly 3.73% of the company’s market capitalization.
Positions in Fitbit Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 100 institutional holders increased their position in Fitbit Inc. [NYSE:FIT] by around 34,256,103 shares. Additionally, 111 investors decreased positions by around 32,238,149 shares, while 48 investors held positions by with 141,155,940 shares. The mentioned changes placed institutional holdings at 207,650,192 shares, according to the latest SEC report filing. FIT stock had 37 new institutional investments in for a total of 11,683,421 shares, while 49 institutional investors sold positions of 9,037,068 shares during the same period.