Media stories about Fitbit (NYSE:FIT) have trended somewhat positive on Wednesday, Accern reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fitbit earned a news sentiment score of 0.11 on Accern’s scale. Accern also assigned press coverage about the scientific and technical instruments company an impact score of 45.6988300490674 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern’s rankings:
- Fitbit stock rises after analyst says new products could expand user base – MarketWatch (marketwatch.com)
- Fitbit Unveils Versa to Fortify Presence in Smartwatch Market (finance.yahoo.com)
- Fitbit Doubles Down on Smartwatches With Two New Products (finance.yahoo.com)
- Glistening Stock’s Review – Fitbit Inc (NYSE: FIT) – Alpha Beta Stock (alphabetastock.com)
- Fitbit expands product lineup with a new smartwatch and an activity tracker for kids (finance.yahoo.com)
FIT has been the topic of several research analyst reports. ValuEngine cut Fitbit from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 7th. Morgan Stanley set a $6.00 target price on Fitbit and gave the stock a “hold” rating in a report on Friday, January 5th. Zacks Investment Research cut Fitbit from a “hold” rating to a “sell” rating in a report on Tuesday, February 27th. Wedbush reiterated a “neutral” rating and set a $6.00 price target (down previously from $6.50) on shares of Fitbit in a report on Tuesday, February 27th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Fitbit in a report on Tuesday, February 27th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $6.85.
In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $4.76, for a total transaction of $71,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andy Missan sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $5.90, for a total value of $29,500.00. Following the transaction, the executive vice president now directly owns 119,981 shares in the company, valued at approximately $707,887.90. The disclosure for this sale can be found here. Insiders sold a total of 60,000 shares of company stock worth $316,750 over the last three months. 29.10% of the stock is owned by company insiders.
Fitbit, Inc is a provider of health and fitness devices. The Company’s platform combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights and virtual coaching through customized fitness plans and interactive workouts.
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