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How Are Analysts Viewing Fitbit?

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Shareholder returns and stock trends

As of January 4, 2017, Fitbit (FIT) has generated investor returns of -72.7% in the trailing 12-month period and -3.0% in the trailing one-month period. By comparison, it has generated year-to-date returns of 10.9%. The company’s share price rose 3.7% in the trailing five-day period and -75.0% in 2016.

Fitbit’s peers in the technology (QQQ) sector include Apple (AAPL), Garmin (GRMN), and Microsoft (MSFT), with returns of 10.1%, 42.8%, and 15.0%, respectively, in the trailing 12-month period.

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Moving averages

On January 4, 2017, Fitbit closed the trading day at $8.12. Based on that figure, here’s how the stock has fared in terms of its moving averages as of that day:

  • 32.2% below its 100-day moving average of $11.98
  • 10.2% below its 50-day moving average of $9.04
  • 6.4% above its 20-day moving average of $7.63

MACD and RSI

MACD (moving average convergence divergence) refers to the difference between a stock’s short-term and long-term moving averages. Fitbit’s 14-day MACD is -0.54, which indicates a downward trading trend.

The company’s 14-day RSI (relative strength index) is 60, which shows that the stock is somewhat overbought. Generally, if an RSI is above 70, it indicates that a stock has been overbought. An RSI below 30 suggests that a stock has been oversold.

Analyst recommendations

Of the 21 analysts covering Fitbit, three have given the stock a “buy” recommendation, and two have given it a “sell.” Sixteen have given it a “hold.”

Analysts’ stock price target for Fitbit is $10.63, with a median target estimate of $10. That means that Fitbit is trading at a discount of 30.9% to its median analyst price target. Analysts had a median target of $20 for Fitbit as of October 20, 2016.

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