Over the past 12 fiscal quarters, Fitbit, Inc. (NYSE:FIT) has topped consensus earnings estimates in 6 quarters (50%), missed earnings in 4 quarters (33%), whereas at 2 occasion EPS met analyst expectations. Shares of Fitbit, Inc. (FIT) have gained 41% since the company’s last earnings report.FIT last reported earnings on October 31, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.04 per share, -100.01% change on the same period last year. That was better than consensus for -$0.01. Revenue for the recent quarter stood at $393.58 million, down 0% on last year and above the $381.21 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $253.13 million to $316.1 million, which should be compared with $357 million generated last year. EPS is seen in a range of -$0.2 to -$0.09, against the 0 reported a year ago.

FIT’s 50 day simple moving average (SMA 50) price is $5.64 and its 200-day simple moving average (SMA 200) price is $5.74. The company’s stock currently has a total float of 211.79M shares. Its weekly volatility is hovering around 3.17% and felt 3.15% volatility in price over a month. On the upside, the share price will test short term resistance at around $6.62. On a downside, the stock is likely to find some support, which begins at $6.35. The failure to get near-term support could push it to $6.26.

Separately, it has been reported that multiple insider activity took place at Fitbit, Inc. (FIT). EVP, General Counsel, Sect. Missan Andy sold 15,000 shares for $84,140 in transaction occurred on 2019/02/11. After making this transaction, the EVP, General Counsel, Sect. owns a direct stake of 99,300 shares, worth $542,703, as per the last closing price. On 2019/01/10 Missan Andy, EVP, General Counsel, Sect. at FIT, dumped 7,500 shares at an average price of $5.66 per share. The selling total is valued at $507,738.

EVP, General Counsel, Sect., Missan Andy had divested 110,000 shares for $78,719 through a trade on 2018/12/18. Following this activity, the insider holds 550,000 shares worth $507,738 as of recent close. Wall Street’s most bullish Fitbit, Inc. (NYSE:FIT) analysts are predicting the share price to blow past $10 per share during the next 12 months. The current median share price forecast by them is $6.25, suggesting that the stock could increase -3.1% in that time frame. The average price target of $6.63 calls for a nearly 2.79% increase in the stock price.

It had seen a positive analyst call from Wedbush, which upgraded the stock from Neutral to Outperform on October 12. Analysts at William Blair, started covering the stock on June 20 with a Mkt Perform rating. Analysts at Cascend Securities, made their first call about the stock on May 17, recommending it is Hold. DA Davidson, released new analyst coverage on May 01, calling the stock is Neutral.

Also, it is trading at rather expensive levels at just over 2.28x price/book and 1.05x price/sales. Compared to others, Fitbit, Inc. is in a different league with regards to profitability, having net margins of -16.3%. To put some perspective around this, the industry’s average net margin is 19.21%. FIT’s ROE is -33.3%, which is also considerably worse than the industry’s ROE of 21.75%. It’s also very liquid in the near term, with a current ratio of 1.8. The stock has a debt/capital of 0.

Fitbit, Inc. (NYSE:FIT) recently claimed $1.59B as the price has approached $6.45. There came a -3.3% decline with the closing bell on Wednesday. The stock remained range bound between $6.43 and $6.7. Trading activity significantly improved as the volume at ready counter increased to 4,851,392 shares versus 3,808,790 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 4,070,897 shares. The stock is now 52.48% above against its bear-market low of $4.23 on October 29, 2018. It has retreated -20.78% since it’s 52-week high of $7.79 reached in June. Now the market price is up 24.52% on the year and up 29.78% YTD.