Fitbit (FIT) stock jumped Tuesday on a report that said demand for the company’s activity trackers appears strong heading into the holiday shopping season. Pacific Crest Securities analyst Brad Erickson reiterated his overweight rating on Fitbit stock with a price target of 47. Fitbit was up 2% in afternoon trading on the stock market today, near 37. “Investors remain overly concerned with competition,” Erickson said in a research report, also
GoPro (GPRO), Apple (AAPL), Fitbit (FIT) and BlackBerry (BBRY) are four big-name consumer tech stocks that have been initiated by Sterne Agee CRT. Here’s a breakdown of which ones are seen as buys and why: Apple was initiated with a buy rating. The analyst notes that Apple has a recurring revenue model, since current Apple product users are big drivers of demand for new products. That opens up the possibility for a subscription to the Apple
Corporate wellness programs are giving Fitbit stock a shot in the arm. Fitbit (FIT) shares shot up 12.3% to 37.10 after retailer Target (TGT) announced that it will offer Fitbit activity trackers for free to its 335,000 U.S. employees. Target is the latest company to provide wearable activity trackers to its workers as a way to improve employee fitness and reduce health care costs. The Target deal is one of Fitbit’s largest