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Fitbit Stock: Wall Street Analysts’ Latest Recommendations

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Stock returns

Fitbit’s (FIT) stock has risen almost 11% in the last five trading days due to its 2Q17 results and optimism regarding its smartphone launch later this year. Fitbit has generated returns of -61% in the trailing-12-month period and 9.8% in the last month. Since the start of calendar 2017, Fitbit stock has fallen over 20% after falling significantly over 75% in calendar 2016. In comparison, Fitbit’s consumer technology (QQQ) peers Apple (AAPL) and Garmin (GRMN) have generated returns of 47% and -7% in the last 12 months.

Analyst recommendations

Out of the 17 analysts covering Fitbit, four have “buy” recommendations, two recommend “sell,” and 11 recommend “hold.” Analysts have an average stock price target of $6.75 with a median target of $6.25, which suggests Fitbit is trading at a discount of 7% to median analyst target estimates.

Moving averages

On August 3, 2017, Fitbit closed the trading day at $5.84. Based on this figure, here’s how the stock fared in terms of moving averages that day.

  • 5.3% above its 100-day moving average of $5.54
  • 9.1% above its 50-day moving average of $5.35
  • 6.7% above its 20-day moving average of $5.48
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