Analysts’ Views on Fitbit After Its Stock Price Decline



Historical stock returns

Fitbit (FIT) has returned -24% in the trailing 12 months, -8% in the last month, and -10.7% in the trailing five days. The stock fell 75% in 2016 and 22% in 2017, and it’s fallen 15% since the start of 2018. Peers Garmin (GRMN), GoPro (GPRO), and Fossil (FOSL) have returned 16%, -40%, and -27%, respectively, in the trailing 12 months.

Article continues below advertisement

Analyst recommendations

Of the 12 analysts tracking Fitbit, two have recommended “buy,” eight have recommended “hold,” and two have recommended “sell.” Analysts’ 12-month average price target for Fitbit is $5.84, with a median target estimate of $5.45. Fitbit is now trading at a discount of 20% to analysts’ median estimate.

Moving averages

On February 27, Fitbit closed the trading day at $4.86. Based on that price, the stock’s moving averages are as follows:

  • 19% below its 100-day moving average of $5.99
  • 13% below its 50-day moving average of $5.59
  • 7.4% below its 20-day moving average of $5.25

Fitbit is currently trading 4% above its 52-week low of $4.67 and 34% below its 52-week high of $7.32.

Relative strength and moving average convergence divergence

Fitbit’s 14-day MACD (moving average convergence divergence) is -0.10. A stock’s MACD is the difference between its short-term and long-term moving averages. Fitbit’s negative MACD indicates a downward trading pattern.

Fitbit has a 14-day RSI (relative strength index) score of 43, which shows that the stock is trading close to oversold territory. An RSI is above 70 indicates that a stock has been overbought, and an RSI figure below 30 suggests that a stock has been oversold.


More From Market Realist