Peloton Interactive (NASDAQ:PTON) Price Target Cut to $6.50 by Analysts at BMO Capital Markets

Peloton Interactive (NASDAQ:PTON) had its target price lowered by investment analysts at BMO Capital Markets from $7.50 to $6.50 in a report released on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 89.78% from the company’s previous close.

PTON has been the topic of a number of other reports. Truist Financial lowered their price target on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. JPMorgan Chase & Co. dropped their target price on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, February 2nd. Macquarie decreased their price target on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research note on Friday. Finally, Bank of America decreased their target price on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.15.

Peloton Interactive Trading Up 9.4 %

NASDAQ:PTON traded up $0.29 during midday trading on Friday, reaching $3.43. The company had a trading volume of 34,761,060 shares, compared to its average volume of 14,940,079. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01. The stock’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $4.88. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. During the same quarter in the prior year, the firm earned ($0.79) earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Peloton Interactive will post -1.61 EPS for the current year.

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors boosted its stake in Peloton Interactive by 17.6% during 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 acquired a new stake in shares of Peloton Interactive during the fourth quarter worth $20,824,000. DNB Asset Management AS lifted its holdings in shares of Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC raised its holdings in Peloton Interactive by 32.7% during the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after buying an additional 1,527,471 shares during the period. Finally, AQR Capital Management LLC boosted its position 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 buying an additional 1,061,868 shares during the period. Institutional investors own 77.01% of the company’s stock.

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.