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Fitbit Is Trading at a 32% Discount to Analyst Average Target

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Dec. 14 2018, Updated 10:30 a.m. ET

Analysts’ recommendations

Of the 15 analysts covering Fitbit (FIT), three recommend a “buy,” ten recommend a “hold,” and only two recommend a “sell.” Their average target price is $6.63, and their median price is $6.6. Fitbit was trading at $5.00 on December 12, a 32% discount to analysts’ median target.

If Fitbit can improve device sales and its average selling price per device in the fourth quarter, the stock might move higher after its fourth-quarter results. The holiday quarter, as usual, is a critical one for consumer tech companies.

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Moving averages

On December 12, Fitbit closed the trading day at $5.00. Based on that price, the stock was trading as follows:

  • 9% below its 100-day moving average of $5.50
  • 4% below its 50-day moving average of $5.21
  • 6.4% below its 20-day moving average of $5.34

Fitbit stock is trading 18.2% above its 52-week low of $4.23 and 36% below its 52-week high of $7.79.

MACD and RSI

Fitbit’s 14-day MACD (moving average convergence divergence) is -0.28. A stock’s MACD is the difference between its short-term and long-term moving averages. Fitbit’s negative MACD score indicates a downward trading trend.

Fitbit has a 14-day RSI (relative strength index) score of 41, which shows that the stock is trading closer to oversold territory. An RSI score of above 70 indicates that a stock has been overbought, while an RSI score of below 30 indicates that a stock has been oversold.

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