Baird downgraded Fitbit (NYSE: FIT) from Outperform to Neutral with a price target of $16.00 (from $30.00).

For an analyst ratings summary and ratings history on Fitbit click here. For more ratings news on Fitbit click here.

Shares of Fitbit closed at $16.52 yesterday.

Analyst PT Change Downgrades

Mizuho Securities Cuts Price Target on Fitbit (FIT) as Product Transition Weighs on 1Q Guide February 23, 2016 8:11 AM Weak FitBit (FIT) Guidance Increases Product Launch Importance - DoughertyFebruary 23, 2016 8:03 AM Leerink Partners Downgrades Fitbit (FIT) to Market PerformFebruary 23, 2016 7:14 AM Oppenheimer Recommends Buying Fitbit (FIT) on WeaknessFebruary 23, 2016 6:54 AM Stifel Downgrades Fitbit (FIT) to HoldFebruary 23, 2016 6:46 AM Pacific Crest Downgrades Fitbit (FIT) to Sector WeightFebruary 23, 2016 6:44 AM Piper Jaffray Downgrades Fitbit (FIT) to NeutralFebruary 23, 2016 6:37 AM Fitbit (FIT) Tops Q4 EPS by 10c; Q1 Guidance MissesFebruary 22, 2016 4:07 PM Fitbit Reports $712M Q415 and $1.86B FY15 Revenue; Guides to $2.4 to $2.5B Revenue in FY16February 22, 2016 4:05 PM