Companies with strong profit and sales growth are good. Ones like Fitbit (FIT) that steamrolled analyst estimates are better. Today’s Screen Of The Day is Estimate Beaters, highly rated stocks that beat earnings per share estimates by wide margins in the latest quarter. The list includes three fast-rising young technology companies: cybersecurity software developer CyberArk Software (CYBR), wearable device maker Fitbit and cloud-based human
Fitbit (FIT) worked up a sweat on Friday after the maker of activity trackers got an upbeat note from Morgan Stanley. Fitbit stock climbed more than 5% to below 45 in afternoon trading on the stock market today. The San Francisco-based company hit an all-time high of 51.90 on Aug. 5. It went public at 20 on June 18. Morgan Stanley analyst Katy Huberty said in a note Friday that the company has “significant long-term opportunity.” However, she took
Fitbit (FIT) could use a spotter. The maker of wearable activity trackers saw its shares tumble Thursday, a day after the company reported a second-quarter earnings beat that prompted several analysts to raise their price targets. Fitbit stock was down 14.5% in midday trading on the stock market today, near 44.20. Shares hit a record high of 51.90 on Wednesday, ahead of Fitbit’s first quarterly report as a publicly traded company. Fitbit went public on June 18 at 20. A decline in the company’s gross profit margin — to 47% in the second quarter from 52% in the year-earlier quarter — spooked investors. The gross margin decline “is a sticking point in what’s otherwise a strong beat-and-raise quarter,” RBC Capital Markets analyst Mark Sue said in a research report Wednesday.