Telsey Advisory Group Reaffirms Market Perform Rating for Peloton Interactive (NASDAQ:PTON)

Peloton Interactive (NASDAQ:PTON)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a note issued to investors on Monday,Benzinga reports. They currently have a $11.00 target price on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 41.94% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Bank of America upgraded shares of Peloton Interactive from an “underperform” rating to a “buy” rating and boosted their target price for the company from $3.75 to $9.00 in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Peloton Interactive in a research report on Friday, November 1st. Truist Financial lifted their price target on Peloton Interactive from $6.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on Peloton Interactive from $3.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their target price on Peloton Interactive from $6.50 to $8.50 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Sixteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.10.

Peloton Interactive Trading Down 4.0 %

Shares of PTON stock opened at $7.75 on Monday. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $10.90. The stock has a market cap of $2.96 billion, a PE ratio of -7.24 and a beta of 1.95. The company’s fifty day moving average price is $9.12 and its 200-day moving average price is $6.53.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. During the same quarter in the previous year, the business posted ($0.44) EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Peloton Interactive will post -0.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Saqib Baig sold 36,776 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $7.53, for a total transaction of $276,923.28. Following the completion of the transaction, the chief accounting officer now directly owns 137,357 shares in the company, valued at approximately $1,034,298.21. The trade was a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total value of $1,039,316.41. Following the transaction, the insider now owns 287,973 shares of the company’s stock, valued at approximately $2,162,677.23. This trade represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 395,813 shares of company stock valued at $3,041,724 in the last quarter. 1.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC boosted its stake in Peloton Interactive by 99.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,208 shares of the company’s stock worth $190,000 after purchasing an additional 28,070 shares during the period. AQR Capital Management LLC boosted its stake in Peloton Interactive by 689.6% in the 2nd quarter. AQR Capital Management LLC now owns 123,736 shares of the company’s stock worth $418,000 after purchasing an additional 108,065 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Peloton Interactive by 253.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 181,589 shares of the company’s stock worth $614,000 after purchasing an additional 130,242 shares during the period. Algert Global LLC bought a new position in Peloton Interactive in the 2nd quarter worth approximately $113,000. Finally, SG Americas Securities LLC boosted its stake in Peloton Interactive by 122.4% in the 3rd quarter. SG Americas Securities LLC now owns 323,478 shares of the company’s stock worth $1,514,000 after purchasing an additional 178,037 shares during the period. 77.01% of the stock is currently owned by institutional investors.

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.