Cowen Downgrades Peloton Interactive (NASDAQ:PTON) to Market Perform

Cowen lowered shares of Peloton Interactive (NASDAQ:PTONGet Rating) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, The Fly reports.

A number of other equities analysts have also recently issued reports on PTON. Telsey Advisory Group lowered their price objective on shares of Peloton Interactive from $11.00 to $9.00 and set a market perform rating for the company in a research report on Friday, October 28th. Barclays lowered their price objective on shares of Peloton Interactive from $18.00 to $14.00 in a research report on Sunday, November 6th. Bank of America lowered their price objective on shares of Peloton Interactive from $19.00 to $16.00 and set a buy rating for the company in a research report on Wednesday, November 2nd. Oppenheimer initiated coverage on shares of Peloton Interactive in a research report on Wednesday, August 3rd. They set an outperform rating and a $20.00 price objective for the company. Finally, Evercore ISI lowered their price objective on shares of Peloton Interactive from $14.00 to $11.00 and set an in-line rating for the company in a research report on Friday, August 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $19.50.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $9.76 on Monday. The firm has a 50 day moving average of $8.85 and a 200-day moving average of $10.41. The stock has a market capitalization of $3.32 billion, a PE ratio of -1.14 and a beta of 1.57. The company has a current ratio of 2.47, a quick ratio of 1.40 and a debt-to-equity ratio of 6.48. Peloton Interactive has a 12 month low of $6.66 and a 12 month high of $47.75.

Peloton Interactive (NASDAQ:PTONGet Rating) last issued its earnings results on Thursday, August 25th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.61). The firm had revenue of $678.40 million during the quarter, compared to analyst estimates of $682.93 million. Peloton Interactive had a negative net margin of 83.97% and a negative return on equity of 116.53%. Peloton Interactive’s quarterly revenue was down 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.05) earnings per share. On average, equities research analysts predict that Peloton Interactive will post -2.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PTON. Wahed Invest LLC acquired a new position in Peloton Interactive during the second quarter worth $29,000. Exchange Traded Concepts LLC raised its holdings in Peloton Interactive by 943.8% during the third quarter. Exchange Traded Concepts LLC now owns 4,509 shares of the company’s stock worth $31,000 after buying an additional 4,077 shares during the last quarter. Covestor Ltd raised its holdings in Peloton Interactive by 1,054.2% during the first quarter. Covestor Ltd now owns 1,385 shares of the company’s stock worth $37,000 after buying an additional 1,265 shares during the last quarter. Clearstead Advisors LLC raised its holdings in Peloton Interactive by 133.7% during the first quarter. Clearstead Advisors LLC now owns 1,573 shares of the company’s stock worth $42,000 after buying an additional 900 shares during the last quarter. Finally, Eisler Capital UK Ltd. acquired a new position in Peloton Interactive during the third quarter worth $44,000. 79.40% of the stock is owned by institutional investors.

About Peloton Interactive

(Get Rating)

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, and Peloton Tread+ names. It also provides connected fitness subscriptions for various household users, and access to various live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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