Peloton Interactive (NASDAQ:PTON) Price Target Raised to $4.00

Peloton Interactive (NASDAQ:PTON) had its target price lifted by Robert W. Baird from $3.50 to $4.00 in a report issued on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group lowered their price objective on shares of Peloton Interactive from $5.75 to $3.50 and set a neutral rating on the stock in a research report on Friday, May 3rd. Telsey Advisory Group reissued a market perform rating and set a $4.00 price target (down previously from $5.00) on shares of Peloton Interactive in a report on Monday, April 29th. Bank of America reduced their price objective on Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a research note on Monday, April 29th. Roth Mkm lowered their target price on Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Finally, Citigroup lowered Peloton Interactive from a buy rating to a neutral rating and dropped their target price for the company from $8.00 to $4.00 in a report on Monday, May 6th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive has a consensus rating of Hold and an average price target of $5.14.

Peloton Interactive Stock Performance

PTON opened at $3.23 on Tuesday. The stock has a market capitalization of $1.20 billion, a P/E ratio of -1.53 and a beta of 2.01. Peloton Interactive has a one year low of $2.70 and a one year high of $9.87. The business’s 50-day simple moving average is $3.75 and its 200-day simple moving average is $4.78.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data 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 the consensus estimate of $720.85 million. The company’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) EPS. On average, equities research analysts forecast that Peloton Interactive will post -1.62 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $3.91, for a total value of $108,467.31. Following the transaction, the insider now directly owns 113,288 shares in the company, valued at approximately $442,956.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive 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 sale, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The disclosure for this sale can be found here. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Peloton Interactive by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock valued at $135,212,000 after acquiring an additional 1,215,397 shares during the last quarter. Capital World Investors increased its stake in Peloton Interactive by 17.6% in the fourth quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after purchasing an additional 3,925,000 shares during the last quarter. DNB Asset Management AS lifted its position in Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after buying an additional 2,020,159 shares during the period. Patient Capital Management LLC boosted its stake in Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after buying an additional 1,527,471 shares during the last quarter. Finally, Norges Bank purchased a new stake in Peloton Interactive in the 4th quarter valued at about $20,824,000. 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.