Peloton Interactive (NASDAQ:PTON) Stock Price Up 7.4% – Still a Buy?

Peloton Interactive, Inc. (NASDAQ:PTON)’s stock price shot up 7.4% during trading on Tuesday . The stock traded as high as $4.08 and last traded at $4.2210. 2,674,239 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 12,908,289 shares. The stock had previously closed at $3.93.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a report on Friday, January 9th. Wall Street Zen lowered Peloton Interactive from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Bank of America set a $9.00 price objective on Peloton Interactive in a research report on Friday, January 30th. Finally, Guggenheim initiated coverage on shares of Peloton Interactive in a report on Wednesday, December 10th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and an average price target of $8.42.

Peloton Interactive Stock Up 3.9%

The stock’s fifty day moving average price is $4.75 and its 200-day moving average price is $6.33. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -31.35, a P/E/G ratio of 0.76 and a beta of 2.47.

Peloton Interactive (NASDAQ:PTON) last released its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). During the same quarter last year, the company earned ($0.24) EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts anticipate that Peloton Interactive, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other news, insider Dion C. Sanders sold 146,844 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $4.41, for a total value of $647,582.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elizabeth F. Coddington sold 21,819 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $3.87, for a total transaction of $84,439.53. Following the completion of the transaction, the chief financial officer directly owned 346,535 shares of the company’s stock, valued at $1,341,090.45. This represents a 5.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,052,924 shares of company stock valued at $4,823,092 in the last ninety days. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Peloton Interactive by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 39,227,591 shares of the company’s stock worth $241,642,000 after purchasing an additional 591,300 shares during the period. Eminence Capital LP lifted its position in shares of Peloton Interactive by 20.3% in the fourth quarter. Eminence Capital LP now owns 18,154,907 shares of the company’s stock valued at $111,834,000 after buying an additional 3,069,497 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Peloton Interactive by 142.4% during the 4th quarter. DNB Asset Management AS now owns 10,776,627 shares of the company’s stock worth $66,384,000 after acquiring an additional 6,331,510 shares during the period. Geode Capital Management LLC increased its holdings in shares of Peloton Interactive by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 9,741,115 shares of the company’s stock worth $60,015,000 after acquiring an additional 369,614 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Peloton Interactive by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock valued at $44,598,000 after acquiring an additional 1,503,680 shares during the period. 77.01% of the stock is owned by institutional investors.

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.