Today’s Research Reports on Trending Tickers: TiVo Corporation and Fitbit, Inc.
U.S. markets were mixed Wednesday as weakness in mining and energy stocks offset a rally from the technology sector. The Dow Jones Industrial Average dropped 0.16 percent close at 24,140.91, while the S&P 500 Index declined 0.01 percent to close at 2,629.27. The Nasdaq Composite Index rose 0.21 percent to close at 6,776.38. Energy stocks slumped as crude oil prices slid 2.9 percent on Wednesday. The tech rally was led by Facebook, with a gain of 1.87 percent, after analysts at Evercore ISI initiated coverage on the company with an “outperform rating.
"Today’s leading tech companies are leveraging the internet to disrupt and take profits from large established industries, a dynamic that is driving real earnings and free cash flow growth," wrote DiClemente wrote Evercore ISI analyst, in a note to clients on Tuesday. "Beyond that, smartphone ubiquity, the transition from offline to digital marketplaces, and continued growth in user adoption of emerging/established digital platforms are providing fuel for the next legs of growth."
RDI Initiates Coverage on:
TiVo Corporation’s stock edged 0.93% higher Wednesday, to close the day at $16.20. The stock recorded a trading volume of 1,015,659 shares, which was above its three months average volume of 759,753 shares. In the last year, TiVo Corporation’s shares have traded in a range of 15.15 – 21.90. The stock is currently trading 26.03% below its 52 week high. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $17.86 is below its 200-day moving average of $18.40. Shares of TiVo Corporation have fallen roughly 7.69 percent in the past month and are down 22.49 percent year-to-date.
Access RDI’s TiVo Corporation Research Report at:
On Wednesday, shares in Fitbit, Inc. recorded a trading volume of 2,952,792 shares, which was below the three months average volume of 5,759,682 shares. The stock ended the day 1.80% higher at 6.78. The share price has gained 38.37% from its 52 week low with a 52 week trading range of 4.90 – 8.40.The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $6.26 is greater than its 200-day moving average of $5.88. Shares of Fitbit, Inc. have gained roughly 11.88 percent in the past month and are down 7.38 percent year-to-date.
Access RDI’s Fitbit, Inc. Research Report at:
Our Actionable Research on TiVo Corporation (NASDAQ:TIVO) and Fitbit, Inc. (NYSE:FIT) can be downloaded free of charge at Research Driven Investing.
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