Fitbit was Downgraded to a Hold Rating at SunTrust RobinsonBy Jason Carr
According to TipRanks.com, Peck is a 5-star analyst with an average return of 6.9% and a 60.1% success rate. Peck covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, TripAdvisor Inc., and Web.com Group.
Currently, the analyst consensus on Fitbit is Moderate Buy and the average price target is $24.50, representing a 91.3% upside.
In a report released today, Morgan Stanley also downgraded the stock to Hold with a $11 price target.
Fitbit’s market cap is currently $2.83B and has a P/E ratio of 24.17. The company has a book value ratio of 2.6553.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Jon Callaghan, a Director at FIT sold 15,000 shares for a total of $195,900.
Fitbit, Inc. engages in the development of wearable device which tracks data of an individual’s health. It offers products which can track a person’s activities, such as calories burned, sleep quality, steps, and distance. The data collected allows an individual to monitor their progress towards their own personal goals. The company was founded by Eric N. Friedman & James Park in March, 2007 and is headquartered in San Francisco, CA.