Analyst Update: Fitbit Inc, Logitech, Plantronics

Analysts adjusted their ratings and price targets on Fitbit Inc (NYSE:FIT), Logitech International SA (USA) (NASDAQ:LOGI), and Plantronics Inc (NYSE:PLT)

Feb 2, 2016 at 2:08 PM
facebook X logo linkedin

Analysts are weighing in today on wearable device enthusiast Fitbit Inc (NYSE:FIT), hardware maker Logitech International SA (USA) (NASDAQ:LOGI), and headset producer Plantronics Inc (NYSE:PLT). Here's a quick roundup of today's brokerage notes on FIT, LOGI, and PLT.

  • FIT hasn't been able to take advantage of a fresh "outperform" rating at Oppenheimer, with the stock last seen off 2.3% at $16.33. Coming into today, FIT had underperformed the S&P 500 Index (SPX) by over 52 percentage points over the previous 60 sessions. Making matters worse, Fitbit Inc's 10-day moving average may be acting as resistance. Regardless, a large portion of Wall Street remains in the bulls' corner, with 15 of 20 analysts calling FIT a "buy" or better, while none say it's a "sell." 

  • Less than two weeks after revealing strong quarterly resultsLOGI is trading off due to bearish analyst attention. Specifically, the shares are 7.7% lower at $14.60, after Morgan Stanley cut its rating for Logitech International SA to "underweight" from "equal weight," while lowering its price target to SFR 13.8 from SFR 14.5. The brokerage firm stated its concern about the company's high exposure to the "structurally-challenged" personal computer market. It's been an up-and-down year for the shares, which are currently testing support near their 100-day moving average. Short sellers are hoping today's sell-off continues, though. At average daily volumes, the nearly 17 million LOGI shares sold short would take an astonishing 36.5 days to buy back. 

  • PLT hit a three-year low earlier of $33.32, and was last seen off 24% at $34.01, following the company's fiscal third-quarter earnings report -- which revealed disappointing revenue and included weak current-quarter sales guidance. Meanwhile, Raymond James lowered its outlook to "underperform" from "outperform," while Northland Capital cut its price target to $54 from $61 and J.P. Morgan Securities slashed its target to $53 from $62. Plantronics Inc is now off over 42% since its all-time high of $58.73 in July, and speculators are likely hoping for more downside. Specifically, 10 puts have been bought to open for every call during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). 
For other stocks in analysts' crosshairs, read Analyst Upgrades: Alphabet Inc, Mattel, Inc., and Netflix, Inc. and Analyst Downgrades: Twitter Inc, SolarCity Corp, and Transocean LTD
Norm 5.0
Alex Eppstein
Karee Venema
Elizabeth Harrow
Andrea Kramer
Kirra Fedyszyn
All changes saved in Drive
To enable screen reader support, press shortcut Ctrl+Alt+Z. To learn about keyboard shortcuts, press shortcut Ctrl+slash.
Analyst Downgrades: Twitter Inc, SolarCity Corp, and Transocean LTD

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI