Fitbit Inc. [NYSE: FIT] gained 0.14% on the last trading session, reaching $7.17 price per share at the time. The company report on November 5, 2020 that Fitbit Reports Third Quarter Results for the Three Months Ended October 3, 2020.
Revenue of $364 million, up 5% year-over-year. Annual run-rate for consumer services revenue exceeds $100 million.
GAAP Net Loss Per Share of $(0.20), Non-GAAP Net Loss Per Share of $(0.03).
Fitbit Inc. represents 270.44 million in outstanding shares, while the company has a total market value of $1.94 billion with the latest information. FIT stock price has been found in the range of $7.14 to $7.18.
If compared to the average trading volume of 4.48M shares, FIT reached a trading volume of 3312696 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.07, with the Price to Sales ratio for FIT stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 4.98, with the Price to Cash per share for the same quarter was set at 1.54.
Trading performance analysis for FIT stock
Fitbit Inc. [FIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.85. With this latest performance, FIT shares gained by 2.28% in over the last four-week period, additionally plugging by 10.99% over the last 6 months – not to mention a rise of 6.22% 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 69.75, with the RSI for the last a single of trading hit 68.49, and the three-weeks RSI is set at 64.90 for Fitbit Inc. [FIT]. The present Moving Average for the last 50 days of trading for this stock 6.83, while it was recorded at 7.14 for the last single week of trading, and 6.57 for the last 200 days.
Fitbit Inc. [FIT]: A deeper dive into fundamental analysis
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 1.30 and a Current Ratio set at 1.40.
Fitbit Inc. [FIT]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Fitbit Inc. posted -0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -500.00%. 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%.
An analysis of insider ownership at Fitbit Inc. [FIT]
There are presently around $1,538 million, or 98.61% of FIT stock, in the hands of institutional investors. The top three institutional holders of FIT stocks are: VANGUARD GROUP INC with ownership of 22,500,654, which is approximately -3.246% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 18,279,899 shares of the stock with an approximate value of $131.07 million in FIT stocks shares; and GOLDMAN SACHS GROUP INC, currently with $92.5 million in FIT stock with ownership of nearly -30.081% of the company’s market capitalization.
Positions in Fitbit Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 91 institutional holders increased their position in Fitbit Inc. [NYSE:FIT] by around 28,131,530 shares. Additionally, 103 investors decreased positions by around 36,944,834 shares, while 58 investors held positions by with 149,477,304 shares. The mentioned changes placed institutional holdings at 214,553,668 shares, according to the latest SEC report filing. FIT stock had 42 new institutional investments in for a total of 11,778,310 shares, while 33 institutional investors sold positions of 7,488,144 shares during the same period.