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Inside Fitbit's 3Q17 Performance

PART:
1 2 3 4 5 6 7 8
Part 8
Inside Fitbit's 3Q17 Performance PART 8 OF 8

Where Fitbit Is Trading Compared with the Analyst Price Targets

Analyst recommendations for Fitbit

Of the 15 analysts tracking Fitbit (FIT) stock, three recommend a “buy,” while ten recommend a “hold.” There are two “sell” recommendations for the stock.

The analysts’ price target for Fitbit stock is now $6.54, with a median target estimate of $6. Fitbit is thus trading at a premium of 4% to the median analyst estimate, despite a significant decline in its share price since calendar 2016.

Where Fitbit Is Trading Compared with the Analyst Price Targets

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Stock returns

Fitbit has generated returns of -52% in the trailing-12-month period and has fallen ~15% since the start of calendar 2017, after declining over 75% in 2016. Fitbit stock has fallen 10% in the past month but has risen 2.3% in the past five trading days.

Among peers, Apple (AAPL), Nokia (NOK), Garmin (GRMN), and Fossil (FOSL) have generated returns of 50%, 11%, 22%, and -70%, respectively, in the trailing-12-month period.

Moving averages

On November 1, Fitbit closed the trading day at $6.25. Based on that price, the stock’s moving averages are as follows:

  • 6.7% above its 100-day moving average of $5.86
  • 1.1% below its 50-day moving average of $6.32
  • 1.1% below its 20-day moving average of $6.32

RSI and MACD

Fitbit’s 14-day MACD (moving average convergence divergence) is -0.05. A stock’s MACD is the difference between its short-term and long-term moving averages. Since Fitbit’s MACD is negative, it suggests a downward trading pattern.

Fitbit has a 14-day RSI (relative strength index) score of 28, which shows that the stock is trading close to oversold territory. (If an RSI is above 70, it means that a stock has likely been overbought, while an RSI figure below 30 suggests that the stock may be oversold.)

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