Peloton Interactive (NASDAQ:PTON) PT Lowered to $3.25

Peloton Interactive (NASDAQ:PTON) had its price objective lowered by research analysts at Bank of America from $4.00 to $3.25 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price target would indicate a potential upside of 2.85% from the company’s current price.

Several other brokerages have also recently issued reports on PTON. Telsey Advisory Group reaffirmed a “market perform” rating and set a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a report on Monday. Truist Financial cut their target price on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Morgan Stanley started coverage on Peloton Interactive in a research report on Monday, March 11th. They set an “equal weight” rating and a $3.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group cut their target price on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.40.

Peloton Interactive Price Performance

Shares of PTON opened at $3.16 on Monday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -1.29 and a beta of 1.96. Peloton Interactive has a 1 year low of $2.91 and a 1 year high of $9.87. The business’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $4.93.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, February 1st. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.01. The firm had revenue of $743.60 million for the quarter, compared to analysts’ expectations of $733.17 million. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the company earned ($0.98) earnings per share. On average, sell-side analysts expect that Peloton Interactive will post -1.6 earnings per share for the current year.

Insider Transactions at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the transaction, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Karen Boone sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $4.33, for a total value of $216,500.00. Following the completion of the sale, the director now directly owns 34,966 shares in the company, valued at $151,402.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in PTON. Capital World Investors increased its position in shares of Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after buying an additional 3,925,000 shares in the last quarter. Norges Bank purchased a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $20,824,000. DNB Asset Management AS boosted its stake in shares of Peloton Interactive by 31.7% in the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after acquiring an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC boosted its stake in shares of Peloton Interactive by 32.7% in the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after acquiring an additional 1,527,471 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Peloton Interactive by 612.1% in the third quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock worth $6,239,000 after acquiring an additional 1,061,868 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Peloton Interactive Company Profile

Peloton Interactive, Inc operates interactive fitness platform in North America and internationally. The company offers connected fitness products with touchscreen that streams live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Tread+, Peloton Guide, and Peloton Row names.