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Fitbit forecasts dismal holiday quarter, shares sink

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Fitbit (FIT) a Broken Stock, Not Broken Story - Oppenheimer

November 3, 2016 7:47 AM EDT

Oppenheimer analyst Andrew Uerkwitz slashed his price target on Fitbit (NYSE: FIT) to $12.00 (from $25.00) but maintained a Outperform rating following weak results, outlook.

Uerkwitz commented, "Fitbit disappointed....again. With the large short interest, many were expecting it, as the company has a... More