Needham & Company LLC Reaffirms Hold Rating for Peloton Interactive (NASDAQ:PTON)

Needham & Company LLC reaffirmed their hold rating on shares of Peloton Interactive (NASDAQ:PTON) in a report published on Friday morning, Benzinga reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group decreased their price objective on Peloton Interactive from $6.50 to $5.75 and set a neutral rating for the company in a report on Friday, February 2nd. Morgan Stanley began coverage on Peloton Interactive in a research report on Monday, March 11th. They issued an equal weight rating and a $3.00 target price for the company. JPMorgan Chase & Co. cut their target price on Peloton Interactive from $9.00 to $8.00 and set an overweight rating for the company in a research report on Friday, February 2nd. Robert W. Baird cut their price objective on Peloton Interactive from $5.00 to $3.50 and set a neutral rating for the company in a research report on Friday. Finally, Bank of America dropped their price target on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $5.70.

Peloton Interactive Trading Up 1.2 %

Peloton Interactive stock traded up $0.04 during midday trading on Friday, hitting $3.47. The stock had a trading volume of 2,416,946 shares, compared to its average volume of 14,783,824. The stock has a market cap of $1.27 billion, a P/E ratio of -1.62 and a beta of 2.01. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $9.87. The business has a fifty day moving average price of $3.93 and a 200 day moving average price of $4.87.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The firm’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.79) earnings per share. On average, equities analysts anticipate that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other 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 transaction of $38,960.18. Following the sale, the chief financial officer now 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 through the SEC website. Company insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in Peloton Interactive in the 4th quarter valued at approximately $47,000. Johnson & White Wealth Management LLC bought a new position in Peloton Interactive during the first quarter worth about $43,000. Abundance Wealth Counselors acquired a new position in Peloton Interactive during the first quarter worth approximately $46,000. Carl P. Sherr & Co. LLC bought a new stake in Peloton Interactive in the third quarter valued at approximately $55,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Peloton Interactive in the fourth quarter valued at approximately $78,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

About Peloton Interactive

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.