Bank of America Trims Peloton Interactive (NASDAQ:PTON) Target Price to $3.25

Peloton Interactive (NASDAQ:PTON) had its target price trimmed by Bank of America from $4.00 to $3.25 in a report published on Monday, Benzinga reports. They currently have an underperform rating on the stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group lowered their target price on Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a research note on Friday, February 2nd. Morgan Stanley began coverage on Peloton Interactive in a research note on Monday, March 11th. They issued an equal weight rating and a $3.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a research note on Friday, February 2nd. Truist Financial lowered their target price on 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, Telsey Advisory Group restated 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. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $7.40.

Peloton Interactive Trading Up 3.5 %

NASDAQ:PTON opened at $3.22 on Monday. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -1.31 and a beta of 1.96. Peloton Interactive has a 1-year low of $2.91 and a 1-year high of $9.87. The business’s fifty day moving average price is $3.97 and its 200 day moving average price is $4.89.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, February 1st. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.01. The business had revenue of $743.60 million for the quarter, compared to analyst estimates of $733.17 million. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.98) earnings per share. Equities analysts forecast that Peloton Interactive will post -1.6 earnings per share for the current year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

Several large investors have recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. acquired a new position in Peloton Interactive in the 1st quarter valued at approximately $94,000. Lee Johnson Capital Management LLC acquired a new position in Peloton Interactive in the 1st quarter valued at approximately $2,837,000. Abundance Wealth Counselors acquired a new position in Peloton Interactive in the 1st quarter valued at approximately $46,000. State of Michigan Retirement System raised its holdings in Peloton Interactive by 412.1% in the 1st quarter. State of Michigan Retirement System now owns 596,477 shares of the company’s stock valued at $2,556,000 after acquiring an additional 480,000 shares in the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new position in Peloton Interactive in the 1st quarter valued at approximately $43,000. 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.