Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $9.00 at Truist Financial

Peloton Interactive (NASDAQ:PTON) had its target price cut by equities research analysts at Truist Financial from $12.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 100.67% from the stock’s previous close.

A number of other brokerages also recently commented on PTON. Citigroup cut their price objective on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Wall Street Zen upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Peloton Interactive in a research report on Friday, January 9th. Telsey Advisory Group lowered their price objective on Peloton Interactive from $8.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday. Finally, UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.87.

Peloton Interactive Price Performance

Shares of PTON stock traded up $0.10 during trading hours on Friday, hitting $4.49. The stock had a trading volume of 14,307,674 shares, compared to its average volume of 14,021,448. The firm has a market capitalization of $1.87 billion, a PE ratio of -16.09, a PEG ratio of 1.37 and a beta of 2.41. The stock’s 50 day moving average is $6.24 and its 200 day moving average is $7.09. Peloton Interactive has a twelve month low of $4.09 and a twelve month high of $10.25.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $656.50 million for the quarter, compared to analysts’ expectations of $675.04 million. During the same period last year, the business posted ($0.24) EPS. Peloton Interactive’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts predict that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 21,820 shares of Peloton Interactive stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $6.31, for a total value of $137,684.20. Following the completion of the sale, the chief financial officer directly owned 346,535 shares of the company’s stock, valued at approximately $2,186,635.85. The trade was a 5.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nick V. Caldwell sold 25,135 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $7.00, for a total value of $175,945.00. Following the completion of the sale, the insider directly owned 739,085 shares in the company, valued at approximately $5,173,595. The trade was a 3.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,107,129 shares of company stock worth $7,708,694 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Peloton Interactive

A number of large investors have recently bought and sold shares of PTON. Bessemer Group Inc. grew its position in Peloton Interactive by 1,602.6% during the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. MAI Capital Management lifted its stake in shares of Peloton Interactive by 64.6% in the 2nd quarter. MAI Capital Management now owns 5,498 shares of the company’s stock valued at $38,000 after purchasing an additional 2,158 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Peloton Interactive during the 3rd quarter worth approximately $48,000. Quarry LP purchased a new position in Peloton Interactive in the third quarter valued at approximately $71,000. Finally, Farther Finance Advisors LLC lifted its position in Peloton Interactive by 158.3% during the third quarter. Farther Finance Advisors LLC now owns 7,986 shares of the company’s stock valued at $72,000 after buying an additional 4,894 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Peloton Interactive News Roundup

Here are the key news stories impacting Peloton Interactive this week:

• Positive Sentiment: Company highlights improving margins, cost controls and deleveraging that support profitability and cash flow — a constructive offset to slowing top-line trends. PYMNTS: Peloton Misses Q2 Revenue
• Positive Sentiment: Macquarie left an “outperform” stance (while cutting the price target to $6), signaling some analyst confidence in upside from the current levels. Benzinga: Macquarie PT Cut
• Positive Sentiment: Unusually large call-option buying suggests some traders are positioning for a rebound or volatility-driven opportunity. (Reported large spike in call volume on Feb. 5.)
• Neutral Sentiment: Analyst commentary and earnings call transcripts are available for details on subscriber trends, product performance and management commentary — useful for dissecting the revenue shortfall and guidance assumptions. Globe and Mail: Analyst Insights MSN: Earnings Call Transcript
• Neutral Sentiment: Telsey lowered its price target to $6 and set a “market perform” rating — a more cautious view but not a full sell rating. Benzinga: Telsey PT Cut
• Negative Sentiment: Q2 results missed expectations: EPS of ($0.09) vs. consensus ($0.07) and revenue of $656.5M vs. ~$675M consensus; revenue was down year-over-year. Management also issued a weaker Q3 revenue outlook ($605M–$625M vs. ~$638M consensus). Yahoo Finance: Revenue Miss
• Negative Sentiment: CFO Liz Coddington is leaving to join Palmetto, creating near-term leadership uncertainty during a sensitive turnaround phase. WSJ: CFO Leaving Peloton Press Release: Leadership Update
• Negative Sentiment: Market reaction: stock plunged over 20% in immediate trading after the print and guidance cut as investors questioned demand for the company’s higher-priced hardware and subscription changes. Yahoo Finance: Down 23%

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.