Analysts Offer Insights on Technology Companies: Fitbit (NYSE: FIT) and Facebook Inc (NASDAQ: FB)

By Ryan Adsit

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Fitbit (NYSE: FIT) and Facebook Inc (NASDAQ: FB).

Fitbit (NYSE: FIT)

In a report released today, Jim Duffy from Stifel Nicolaus maintained a Hold rating on Fitbit (NYSE: FIT), with a price target of $10. The company’s shares closed yesterday at $12.81, close to its 52-week low of $11.65.

According to TipRanks.com, Duffy is a 4-star analyst with an average return of 3.0% and a 51.5% success rate. Duffy covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, G-III Apparel Group, and Deckers Outdoor.

Currently, the analyst consensus on Fitbit is Hold and the average price target is $13.60, representing a 6.2% upside.

In a report released today, Morgan Stanley also downgraded the stock to Hold with a $11 price target.
Facebook Inc (NASDAQ: FB)

In a report released today, Peter Stabler from Wells Fargo maintained a Buy rating on Facebook Inc (NASDAQ: FB). The company’s shares closed yesterday at $127.17, close to its 52-week high of $133.50.

According to TipRanks.com, Stabler is a 5-star analyst with an average return of 17.9% and a 75.6% success rate. Stabler covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, Angie’s List Inc., and TripAdvisor Inc.

Currently, the analyst consensus on Facebook Inc is Strong Buy and the average price target is $161.14, representing a 26.7% upside.

In a report issued on October 19, Deutsche Bank also reiterated a Buy rating on the stock with a $170 price target.