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.
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.
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