Peloton Interactive (NASDAQ:PTON) Upgraded to Buy at Wall Street Zen

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

Other analysts also recently issued research reports about the stock. Bank of America set a $9.00 price target on shares of Peloton Interactive in a research report on Friday, January 30th. JPMorgan Chase & Co. reduced their price target on shares of Peloton Interactive from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 6th. The Goldman Sachs Group lifted their price target on shares of Peloton Interactive from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Truist Financial reduced their price target on shares of Peloton Interactive from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Finally, UBS Group reissued a “buy” rating on shares of Peloton Interactive in a research report on Tuesday, February 3rd. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Peloton Interactive has an average rating of “Hold” and an average target price of $8.25.

Peloton Interactive Trading Up 2.1%

NASDAQ PTON opened at $5.29 on Friday. The company has a fifty day simple moving average of $4.64 and a 200 day simple moving average of $5.56. Peloton Interactive has a 12-month low of $3.65 and a 12-month high of $9.20. The company has a market cap of $2.29 billion, a P/E ratio of 132.28, a PEG ratio of 0.97 and a beta of 2.50.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Peloton Interactive had a net margin of 0.94% and a negative return on equity of 6.95%. The business had revenue of $630.90 million during the quarter, compared to analyst estimates of $618.25 million. During the same period in the previous year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Peloton Interactive will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Saqib Baig sold 15,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $5.50, for a total transaction of $82,500.00. Following the sale, the chief financial officer directly owned 199,059 shares in the company, valued at $1,094,824.50. This represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dion C. Sanders sold 146,844 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $4.41, for a total value of $647,582.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 949,584 shares of company stock worth $4,048,638 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently modified their holdings of PTON. Royal Bank of Canada increased its position in shares of Peloton Interactive by 342.6% during the first quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock valued at $3,896,000 after buying an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Peloton Interactive by 2.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock valued at $1,839,000 after buying an additional 6,921 shares during the period. NewEdge Advisors LLC increased its position in shares of Peloton Interactive by 3,132.6% during the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock valued at $98,000 after buying an additional 15,068 shares during the period. Goldman Sachs Group Inc. increased its position in shares of 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 during the period. Finally, Caxton Associates LLP bought a new stake in shares of Peloton Interactive during the first quarter valued at about $282,000. 77.01% of the stock is currently owned by institutional investors.

Peloton Interactive Company Profile

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.