Vetr Crowd Upgrades Weight Watchers, Sees Even More Upside Coming

• Shares of Weight Watchers International, Inc. WTW have lost nearly 5 percent since the start of 2015 despite surging more than 250 percent over the past three months.
• The Vetr crowd upgraded Weight Watchers' rating to 2.5-stars out of a possible five stars.
• Despite an upgrade, the crowd-sourced price target of $21.68 implies a potential downside of more than 6 percent.

Shares of Weight Watchers have surged following a new partnership with media mogul Oprah Winfrey. However, the stock is still lower by nearly 5 percent this year.

Nevertheless, the Vetr crowd turned incrementally bullish on the stock on Tuesday and upgraded its 2.5-stars out of a possible five stars. Meanwhile, the stock has fallen to $23.02 since the crowd's previous rating of 1.5 stars was issued 39 days ago.

Related Link: Vetr Crowd Upgrades Tuesday Morning To 3-Star Stock

Despite the Vetr crowd turning slightly more bullish on the stock, the crowd-sourced price target of $21.68 implies a downside of more than 6 percent. In addition, 66 percent of the crowd's ratings are bearish and recommend a Sell rating.

Technology As An Alternative To Weight Watchers' Program?

Many investors have lost their appetite for Weight Watchers and one of the reasons is attributed to wearable technology as an alternative to the Weight Watchers program. This thesis may be supported by the Vetr crowd.

The Vetr crowd gives Fitbit Inc FIT's stock a five-star rating and only 3.2 percent of the crowd's ratings are bearish, or Sell recommended.

Fitbit is best known for its connected health and fitness devices that allows users to monitor their fitness progress online. The Vetr crowd's crowd-source price target of $37.50 implies an upside of more than 30 percent, likely indicating the crowd is more bullish on health and wellness technology products, rather than Weight Watchers' traditional program.