Peloton Interactive (NASDAQ:PTON) Price Target Cut to $2.53 by Analysts at Macquarie

Peloton Interactive (NASDAQ:PTON) had its target price cut by Macquarie from $4.50 to $2.53 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s target price would suggest a potential downside of 26.13% from the stock’s previous close.

A number of other research analysts also recently issued reports on PTON. Bank of America dropped their price target on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a research note on Monday, April 29th. Roth Mkm cut their target price on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird decreased their price target on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating for the company in a research note on Friday. Truist Financial dropped their price objective 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. Finally, Sanford C. Bernstein downgraded shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $3.80 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.15.

Peloton Interactive Trading Up 9.4 %

Shares of NASDAQ:PTON opened at $3.43 on Friday. The firm has a 50 day simple moving average of $3.93 and a 200-day simple moving average of $4.87. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87. The company has a market capitalization of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. Peloton Interactive’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.79) earnings per share. As a group, equities research analysts predict that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following 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 Securities & Exchange Commission, which is available at this link. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Peloton Interactive by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock valued at $184,767,000 after acquiring an additional 735,658 shares during the last quarter. Capital World Investors grew 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 purchasing an additional 3,925,000 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Peloton Interactive by 31.7% during the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after purchasing an additional 2,020,159 shares in the last quarter. Patient Capital Management LLC increased its stake in shares of 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 purchasing an additional 1,527,471 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Peloton Interactive during the 4th quarter worth approximately $20,824,000. Institutional investors and hedge funds 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.