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Fitbit Gets a ‘Buy’ from Only 18% of Analysts

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Analyst recommendations

Of the 17 analysts tracking Fitbit (FIT) stock, three have recommended a “buy,” and 11 have recommended a “hold.” There were three “sell” recommendations. Analysts’ 12-month average price target for Fitbit is $6.35 compared to its current price of $6.35. Fitbit is trading at a discount of ~7% to its median estimate, driven by its recent price rise.

Fitbit stock rose 20% in June after Citron Research stated that the stock could double by the end of 2018, driven by healthcare initiatives. Citron Research then had a price target of $15 for the stock.

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Moving averages

On September 11, Fitbit stock closed at $5.94. Based on that price, the stock is trading as follows:

  • 0.7% below its 100-day moving average of $5.98
  • 2% below its 50-day moving average of $6.06
  • 0.5% above its 20-day moving average of $5.91

Technical indicators

Fitbit’s 14-day MACD (moving average convergence divergence) is -0.11. MACD marks the difference between a stock’s short-term and long-term moving averages. Fitbit’s negative MACD indicates a downward trading trend.

Fitbit has a 14-day RSI (relative strength index) score of 49, which shows that the stock is trading between oversold and overbought territory. An RSI score above 70 indicates that a stock has been overbought, while an RSI score below 30 suggests that it has been oversold.

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