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FIT

Fitbit

$5.93

0.22 (3.86%)

15:00
08/20/18
08/20
15:00
08/20/18
15:00

Fitbit calls active as shares extend gains

Fitbit calls active as shares extend gains. The stock up 22c to $5.92 and small lots of Aug 24th 6 calls trade in morning action from 7 to 10c per contract. 4.2K trade against 1.5K open interest and the bullish flow opens positions struck 1.5% above spot, expiring in four days. Bullish flow today comes after a three-day 12.1% rebound in Fitbit shares, which are down 22% since reaching 52-week highs in mid-June. Earnings reported 8/1.

  • 12

    Sep

FIT Fitbit
$5.93

0.22 (3.86%)

06/07/18
WEDB
06/07/18
NO CHANGE
Target $6
WEDB
Neutral
Fitbit management change not likely to disrupt transition, says Wedbush
Wedbush analyst Alicia Reese does not expect Fitbit CFO Bill Zarella's departure "to create waves." The analyst thinks it was a good choice on the part of management to clearly state in its press release that Zarella is leaving to join an autonomous vehicle startup, indicating that there were no internal issues driving his departure. Fitbit is promoting its Chief Accounting Officer, Ron Kisling, to Chief Financial Officer, Reese notes, adding that she expects the transition to be smooth. The analyst reiterates a Neutral rating and $6 price target on the shares.
06/07/18
MSCO
06/07/18
NO CHANGE
Target $4
MSCO
Underweight
Morgan Stanley says decline in older products still central issue for Fitbit
Morgan Stanley analyst Yuuji Anderson said his recent checks indicate early performance for Fitbit's new Versa smartwatch could be running ahead of near-term expectations. However, he thinks his below consensus FY18 estimates are already giving adequate credit for strong Versa performance and that the market is too optimistic on the time it will take for Fitbit to reach revenue stabilization as his checks also continue to show accelerated declines in older products. Anderson maintains his Underweight rating and $4 price target on Fitbit shares.
06/15/18
CHLM
06/15/18
NO CHANGE
CHLM
Craig-Hallum sees 'strong' buying opportunity for Fitbit shares
Fitbit shares are set to open lower this morning on news that six current and former Fitbit employees were indicted last night for allegedly stealing trade secrets from Jawbone. While this sounds very bad, Craig-Hallum analyst Alex Fuhrman notes that Jawbone sued Fitbit in 2015 and the lawsuit was settled last year, with a court having previously ruled that no improperly acquired trade secrets were used in any Fitbit product. Fuhrman, who has a Buy rating on Fitbit shares, thinks this is a "strong" buying opportunity.
08/02/18
SBSH
08/02/18
NO CHANGE
Target $5
SBSH
Sell
Citi reiterates Sell on Fitbit, says not an acquisition target
Citi analyst Jim Suva reiterates a Sell rating on Fitbit (FIT) with a $5 price target following the company's Q2 results, which he notes were largely better than expected except for a decline in free cash flow. Apple's (AAPL) smart watch is smarter than Fitbit's (FIT) smartwatches, which do not allow "robust" two-way communication or a lengthy app catalog, and the price differential is immaterial, Suva tells investors in a post-earnings research note. Further, he does not see Fitbit as an acquisition target.

TODAY'S FREE FLY STORIES

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0.01 (0.26%)

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AMZN

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TELL

Tellurian

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DIS

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PHUN

Phunware

$119.00

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Tesla

$287.44

-11.36 (-3.80%)

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  • 30

    Jan

BATRA

Liberty Braves Group

$26.10

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PHUN

Phunware

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LRN

K12

$27.24

1.42 (5.50%)

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HES

Hess Corp.

$50.31

-1.54 (-2.97%)

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  • 10

    Feb

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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SYMC

Symantec

$19.53

-0.28 (-1.41%)

12:10
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IBM

IBM

$132.06

9.72 (7.95%)

, UTX

United Technologies

$114.94

3.71 (3.34%)

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9.72 (7.95%)

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$114.94

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CMCSA

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$36.36

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ARAY

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QUOT

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COF

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RES

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$10.69

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COF

Capital One

$78.09

-5.29 (-6.34%)

, WMT

Walmart

$98.04

0.57 (0.58%)

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COF

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$78.09

-5.29 (-6.34%)

WMT

Walmart

$98.04

0.57 (0.58%)

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  • 11

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APO

Apollo Global

$27.24

0.115 (0.42%)

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  • 31

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TSE

Trinseo

$43.55

-4.99 (-10.28%)

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  • 14

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SRLP

Sprague Resources

$17.00

-2.31 (-11.96%)

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  • 14

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QUOT

Quotient Technology

$9.42

-1.57 (-14.29%)

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  • 24

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