Peloton Interactive (NASDAQ:PTON) Downgraded to Neutral at Citigroup

Citigroup downgraded shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a neutral rating in a research report report published on Monday morning, MarketBeat Ratings reports. They currently have $4.00 target price on the stock, down from their prior target price of $8.00.

Several other analysts also recently weighed in on the company. Roth Mkm cut their price target on Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday. Truist Financial reduced their price target on Peloton Interactive from $7.00 to $6.00 and set a hold rating for the company in a report on Friday, February 2nd. Robert W. Baird cut their price objective on shares of Peloton Interactive from $5.00 to $3.50 and set a neutral rating on the stock in a research report on Friday. Morgan Stanley began coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They set an equal weight rating and a $3.00 price objective for the company. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $4.00 target price (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $5.70.

Peloton Interactive Stock Up 3.4 %

NASDAQ:PTON opened at $3.54 on Monday. The firm’s fifty day simple moving average is $3.90 and its 200 day simple moving average is $4.86. The stock has a market cap of $1.30 billion, a P/E ratio of -1.68 and a beta of 2.01. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87.

Peloton Interactive (NASDAQ:PTON) last posted its 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 business had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.79) EPS. On average, analysts expect that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PTON. Raymond James Financial Services Advisors Inc. raised its holdings in Peloton Interactive by 6.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,983 shares of the company’s stock worth $195,000 after purchasing an additional 1,921 shares during the period. Principal Financial Group Inc. raised its stake in shares of Peloton Interactive by 3.5% in the third quarter. Principal Financial Group Inc. now owns 91,109 shares of the company’s stock worth $460,000 after buying an additional 3,071 shares during the period. Arizona State Retirement System lifted its position in shares of Peloton Interactive by 4.2% during the 3rd quarter. Arizona State Retirement System now owns 90,921 shares of the company’s stock valued at $459,000 after buying an additional 3,632 shares in the last quarter. M&T Bank Corp grew its stake in shares of Peloton Interactive by 25.4% during the 3rd quarter. M&T Bank Corp now owns 18,002 shares of the company’s stock valued at $91,000 after acquiring an additional 3,643 shares during the period. Finally, Private Advisor Group LLC raised its stake in Peloton Interactive by 11.5% during the 4th quarter. Private Advisor Group LLC now owns 37,373 shares of the company’s stock worth $228,000 after acquiring an additional 3,855 shares during the period. Hedge funds and other 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.