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Fitbit Shares Plunge on Stifel Downgrade

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Fitbit Shares Plunge on Stifel DowngradePhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/32e7a10f-efd0-424a-861f-2f3e0bb7ce02.png

Fitbit Shares Plunge on Stifel Downgrade

Things aren't going well for Fitbit (NYSE: FIT) shares today following a downgrade from Stifel Nicolaus analyst Jim Duffy, who dropped his rating on Fitbit shares from hold to sell. The analyst's price target of $6 was unchanged, suggesting the move could be in response to shares rising over the past three months.

It's been a tough year for the fitness company, and the situation may only get worse in 2018, in Duffy's view.

Image source: Fitbit.

Source: Fool.com