Peloton Interactive (NASDAQ:PTON) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Peloton Interactive (NASDAQ:PTON) from a buy rating to a hold rating in a research report report published on Saturday.

Several other analysts have also commented on the stock. Truist Financial increased their price target on shares of Peloton Interactive from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 target price on shares of Peloton Interactive in a report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Peloton Interactive in a research report on Tuesday, October 14th. Telsey Advisory Group restated a “market perform” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday, November 3rd. Finally, Morgan Stanley lifted their price objective on Peloton Interactive from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 19th. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and an average price target of $9.86.

Peloton Interactive Stock Down 3.4%

Shares of PTON stock opened at $6.61 on Friday. The stock has a market cap of $2.76 billion, a P/E ratio of -23.61, a P/E/G ratio of 2.06 and a beta of 2.40. Peloton Interactive has a fifty-two week low of $4.63 and a fifty-two week high of $10.25. The business has a fifty day simple moving average of $6.63 and a 200-day simple moving average of $7.18.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $550.80 million during the quarter, compared to analysts’ expectations of $540.61 million. The company’s revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Activity at Peloton Interactive

In related news, CAO Saqib Baig sold 42,267 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.25, for a total value of $306,435.75. Following the transaction, the chief accounting officer directly owned 193,052 shares of the company’s stock, valued at approximately $1,399,627. This trade represents a 17.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Cunningham Cotter sold 148,432 shares of Peloton Interactive stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.22, for a total value of $1,071,679.04. Following the completion of the transaction, the insider owned 231,764 shares in the company, valued at $1,673,336.08. The trade was a 39.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 998,452 shares of company stock valued at $6,988,068 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTON. Vanguard Group Inc. lifted its stake in shares of Peloton Interactive by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 38,636,291 shares of the company’s stock valued at $347,727,000 after purchasing an additional 811,585 shares in the last quarter. Eminence Capital LP purchased a new position in Peloton Interactive in the second quarter valued at approximately $112,681,000. Geode Capital Management LLC lifted its position in Peloton Interactive by 5.7% during the second quarter. Geode Capital Management LLC now owns 9,141,542 shares of the company’s stock valued at $63,450,000 after buying an additional 490,353 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Peloton Interactive by 27.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after buying an additional 1,503,680 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Peloton Interactive by 10.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,446,827 shares of the company’s stock worth $44,741,000 after buying an additional 615,647 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.