Dougherty & Co Downgrades Fitbit (FIT) to Neutral on Valuation
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Deutsche Bank Comments on Fitbit's (FIT) Second Quarter, Raises PT
August 6, 2015 9:27 AM EDTDeutsche Bank reiterated a Buy rating on Fitbit (NYSE: FIT) and raised its price target to $52.00 (from $50.00). Comments follow the release of the company's Q2 results. Analyst Ross Sandler noted positives including revenue and unit growth, but noted concerns in a few areas including gross margins.
"Fitbit reported revenue and EBITDA that were meaningfully above our conservative estimates, but importantly, revenue and unit growth reaccelerated 80% (ex-fx) and 14% respectively from last quarter, off a pretty sizeable base. For Fitbit to hit $2.00 in EPS, it needs to sell around 36m units at the current ASP,... More
Fitbit (FIT) PT Raised to $52 at SunTrust Robinson Humphrey
August 6, 2015 7:24 AM EDTSunTrust Robinson Humphrey analyst Robert Peck reiterated a Buy rating and raised his price target on Fitbit (NYSE: FIT) to $52.00 (from $50.00) following strong results after the close.
Peck commented, "2Q results beat estimates across the board; 2015 guidance is materially above Street.... More
Piper Jaffray Raises Price Target on Fitbit (FIT) to $60 Following 2Q15 EPS Beat
August 6, 2015 6:48 AM EDTPiper Jaffray reiterated an Overweight rating on Fitbit (NYSE: FIT), and raised the price target to $60.00 (from $52.00), following 2Q15 earnings results. FIT reported sales of $400M, above the Street's $319.5M estimate. Adjusted Q2 EPS of $0.21 beat the Street's estimate of $0.08. Management offered 3Q sales guidance of $335-$365M, and EPS of $0.07-$0.10. For the... More
Fitbit (FIT) PT Raised to $79 at Leerink Partners on 'Beat and Raise' Qtr
August 6, 2015 6:36 AM EDTLeerink Partners analyst Steven Wardell reiterated an Outperform rating and raised his price target on Fitbit (NYSE: FIT) to $79.00 (from $44.00) following a 'beat and raise' quarter.
Wardell commented, "After the market close, Fitbit reported 2Q15 revenue of $400m, a 26% beat v.... More
UPDATE: Fitbit (FIT) Tops Q2 EPS by 13c, Offers Q3 & FY Outlook
August 5, 2015 4:07 PM EDT(Updated - August 5, 2015 4:10 PM EDT)
Fitbit (NYSE: FIT) reported Q2 EPS of $0.21, $0.13 better than the analyst estimate of $0.08. Revenue for the quarter came in at $400 million versus the consensus estimate of $319.45 million.
Our second quarter results included our highest quarterly revenue in the eight-year history of Fitbit, said James Park, Fitbit co-founder and CEO. In the quarter, we... More
