Fitbit Is Banking on This for Long-Term Growth

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Part 9
Fitbit Is Banking on This for Long-Term Growth PART 9 OF 9

Inside Fitbit’s September Moving Averages

FIT’s stock returns

Since the start of 2017, Fitbit (FIT) stock has fallen 12%, after falling ~75% in 2016. The stock has generated returns of -1.8% in the past five trading days. In the trailing-12-month period, Fitbit stock has fallen 62%, while in the past-one-month period, it has risen 12.4%. 

Fitbit’s stock price rose 10% (during two trading days) to $6.88 on September 14, 2017, after the firm announced the launch of its Ionic smartwatch. The stock price has since then fallen to $6.44.

Inside Fitbit&#8217;s September Moving Averages

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Among Fitbit’s consumer technology (QQQ) peers, Apple (AAPL), Garmin (GRMN), and Fossil Group (FOSL) have generated returns of 34%, 10%, and -70%, respectively, in the trailing-12-month period.

FIT’s moving averages

On September 25, 2017, Fitbit closed the trading day at $6.44. Based on that price, the stock’s moving averages are as follows:

  • 14.2% above its 100-day moving average of $5.64
  • 10.7% above its 50-day moving average of $5.82
  • 3% above its 20-day moving average of $6.25

Analyst recommendations

Of the 23 analysts tracking Fitbit, four gave the stock a “buy” recommendation, and eleven analysts recommended a “hold.” There were two “sell” recommendations from these analysts.

The analysts’ price target for Fitbit (FIT) stock is $6.71, with a median target estimate of $6.00. Fitbit is now trading at a premium of 6.9% to the median analyst estimate.


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