Peloton Interactive (NASDAQ:PTON) Price Target Raised to $9.00

Peloton Interactive (NASDAQ:PTON) had its target price lifted by Macquarie from $4.90 to $9.00 in a report issued on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on PTON. Telsey Advisory Group raised their target price on shares of Peloton Interactive from $5.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday. BMO Capital Markets restated a “market perform” rating and set a $6.50 target price on shares of Peloton Interactive in a research note on Tuesday, October 1st. Canaccord Genuity Group raised their price target on Peloton Interactive from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley boosted their price target on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Robert W. Baird boosted their target price on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Stock Down 14.7 %

Shares of NASDAQ:PTON opened at $7.25 on Friday. The firm has a 50 day moving average of $5.11 and a 200 day moving average of $4.07. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $8.92.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. Peloton Interactive’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) EPS. On average, sell-side analysts expect that Peloton Interactive will post -0.65 EPS for the current year.

Insider Buying and Selling

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at approximately $865,592. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares of the company’s stock, valued at $865,592. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nick V. Caldwell bought 31,337 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $4.25 per share, with a total value of $133,182.25. Following the completion of the purchase, the insider now owns 31,337 shares in the company, valued at approximately $133,182.25. The disclosure for this purchase can be found here. Insiders have sold a total of 167,880 shares of company stock valued at $815,767 over the last ninety days. Company insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several institutional investors and hedge funds have recently modified their holdings of PTON. DME Capital Management LP purchased a new position in Peloton Interactive during the second quarter worth approximately $22,947,000. DNB Asset Management AS raised its stake in shares of Peloton Interactive by 42.4% during the 2nd quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock worth $40,880,000 after buying an additional 3,611,069 shares during the period. Clearline Capital LP acquired a new position in shares of Peloton Interactive during the 2nd quarter worth approximately $7,527,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Peloton Interactive during the 1st quarter valued at approximately $5,877,000. Finally, Vanguard Group Inc. grew its stake 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 period. Hedge funds and other institutional investors 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.