Company Update (NYSE:FIT): Fitbit Inc to Donate $1 Million Across Three Charities With FitForGood

Fitbit Inc (NYSE:FIT) the leader in the connected health and fitness market, today unveiled FitForGood, a charitable platform inviting Fitbit fans to get fit for a good cause. Fitbit’s FitForGood challenge encourages anyone with a Fitbitaccount to sign up, and get moving, with their steps counting towards a challenge across three national non-profit organizations:The American Diabetes Association, The American Heart Association and National Multiple Sclerosis Society. Actress, dancer, singer and Emmy Award-winning choreographer and Fitbit Ambassador, Julianne Hough will provide motivation to inspire people across the nation to get fit for good. At the end of the challenge, Fitbit will donate a total of $1 million across the three organizations.

“The work that each of these three organizations do is so important to our country and closely aligns with our mission as a company, which is to give people the tools to help them live healthier, more active lives,” said James Park, Fitbit Co-Founder and CEO. “By helping people see how small changes can add up to big results, Fitbit makes the path toward health and fitness fun, engaging and sustainable. Like we did with FitForFood earlier this year, we’re encouraging all of our users to get active and do something good for themselves while providing an opportunity to give back at the same time.” (Original Source)

Shares of Fitbit Inc. closed yesterday at $37.31 . FIT has a 1-year high of $51.90 and a 1-year low of $29.50. The stock’s 50-day moving average is $37.46 and its 200-day moving average is $39.18.

On the ratings front, Fitbit has been the subject of a number of recent research reports. In a report released yesterday, Leerink Swann analyst Steven Wardell reiterated a Buy rating on FIT, with a price target of $81, which implies an upside of 117.1% from current levels. Separately, on the same day, Cowen’s John Kernan reiterated a Hold rating on the stock and has a price target of $41.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Steven Wardell and John Kernan have a total average return of -2.4% and 4.0% respectively. Wardell has a success rate of 41.2% and is ranked #2930 out of 3824 analysts, while Kernan has a success rate of 63.2% and is ranked #1364.

Overall, 4 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 $56.00 which is 50.1% above where the stock closed yesterday.

Fitbit Inc provides fitness tracking devices, wearable devices, and the health and fitness industry. It provides platform to combine connected health and fitness devices with software and services.



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