Have Experts Now Turned Bearish On Fitbit, Inc. (FIT), Pure Storage, Inc. (PSTG)?

Fitbit, Inc. (NYSE:FIT) recently ticked higher on weak volume. About 4.88 million contracts were traded on 12-Mar-18 compared to daily average volume of 6.32 million shares. The first sale was made at $5.23 but later the stock became weaker, and closed with a gain of 2.31%. It was last traded at $5.31 apiece.

Fitbit, Inc. (FIT): Hold Candidate With 9.98% Upside Potential

Fitbit, Inc. is maintained at an average hold rating by 12 stock analysts, and there are at least 23.18% of shares outstanding that are currently legally short sold. The shares went up by 4.12% in value last month. Year-to-date it plunged -7.01%. Analysts are turning out to be neutral than before, with 2 of analysts who cover Fitbit, Inc. (NYSE:FIT) advice adding it to buy candidate list. Wall Street experts also assign a $5.84 price target on Fitbit, Inc., pointing towards a 9.98% rally from current levels. The stock is trading for about -27.46% less than its 52-week high.

Fitbit, Inc. Reports 50.03% Sales Growth

Fitbit, Inc. (FIT) remained unsuccessful in beating the consensus-estimated -$0 as it actually earned -$0.02 per share in its last reported financial results. Revenue, on the other hand, scored 50.03% growth from the previous quarter, coming up with $588.89 million.

FIT Adds 3.51% In A Week

This company shares (FIT) so far managed to recover 13.7% since collapsing to its 52-week low. Over a month, it has seen its stock price volatility to stay at 3.41% while shortening the period to a week, volatility was 4.4%. The share price has already crossed its 20 days moving average, floating at a distance of 2% and sits -1.67% lower versus its 50 days moving average. When looking at the past five sessions, the stock returned 3.51% gains and is down by -8.64% compared with its 200-day moving average of $6.01. Also, Fitbit, Inc. (FIT) needs to overturn a -9.39% decrease it experienced over the past twelve months.

Pure Storage, Inc. (NYSE:PSTG) Consensus Call At 2.1

As regular trading ended, Pure Storage, Inc. (PSTG) stock brought in a $0.01 rise to $20.99. The day started at a price of $20.96 but then traded as high as $21.075 before giving part of the gains back. As for this week, analysts appear content to stick with their neutral outlook with the consensus call at 2.1. Pure Storage, Inc. is given 6 buy-equivalent recommendations, 0 sells and 6 holds. The company shares sank -7.12% from their peak of $22.60 and now has a $4.48 billion market value of equity.

Pure Storage, Inc. Could Grow 11.72% More

PSTG’s mean recommendation on Reuter’s scale improved from 2.05 thirty days ago to 2.09 now, which indicates a hold consensus from the analyst community. They see Pure Storage, Inc. (PSTG) price hitting a mean target of $23.45 a share, meaning the stock still has potential that could lift the price another 11.72% Also, the recent close suggests the stock is underpriced by 23.87% compared to the most bullish target.

Pure Storage, Inc. (PSTG) Returns 32.35% This Year

The company had seen its current volume reaching at 3.78 million shares in the last trade. That compares with the recent volume average of 2.44 million. At the close of regular trading, its last week’s stock price volatility was 4.45% which for the month reaches 3.48%. Pure Storage, Inc. dipped to as low as $20.32 throughout the day and has returned 32.35% in this year. At one point in the past year, the shares traded as low as $9.61 but has recovered 118.42% since then.

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