Fitbit Inc (NYSE:FIT), the leader in the connected health and fitness market, released FitbitAdventures, a new series of personal, non-competitive activity Challenges that are designed to inspire you to move more and reach your health and fitness goals. With each step logged, you can advance and virtually experience iconic landmarks and trails inYosemite National Park or participate in the TCS New York City Marathon, while being motivated by fun facts and inspired through immersive breathtaking photography.
“Fitbit Adventures are the perfect motivation for anyone who may not want to compete in a traditional Fitbit group challenge with friends or family,” said Tim Roberts, Executive Vice President, Interactive at Fitbit. “These new challenges inspire you to move more through virtual explorations of some of the most captivating environments in the world – places you might not be able to visit otherwise – all powered by your daily step activity. Whether hiking a beautiful trail in one of America’s greatest natural treasures, completing the most iconic marathon in the world, or visiting one of the many exciting destinations yet to come, we believe Adventures truly brings the experience to life.” (Original Source)
Shares of Fitbit closed last Friday at $14.67, down $0.12 or -0.81%. FIT has a 1-year high of $42.04 and a 1-year low of $11.65. The stock’s 50-day moving average is $14.10 and its 200-day moving average is $14.34.
On the ratings front, Fitbit has been the subject of a number of recent research reports. In a report issued on August 23, Longbow Research analyst Joe Wittine maintained a Buy rating on FIT, with a price target of $20, which implies an upside of 36% from current levels. Separately, on August 17, Dougherty’s Charlie Anderson reiterated a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joe Wittine and Charlie Anderson have a total average return of -0.3% and 4.1% respectively. Wittine has a success rate of 47% and is ranked #2780 out of 4127 analysts, while Anderson has a success rate of 51.5% and is ranked #1415.
Overall, 6 research analysts have assigned a Hold rating and 10 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $21.00 which is 43.1% above where the stock closed last Friday.
Fitbit, Inc. engages in the development of wearable device which tracks data of an individual’s health. It offers products which can track a person’s activities, such as calories burned, sleep quality, steps, and distance. The data collected allows an individual to monitor their progress towards their own personal goals.