Peloton Interactive (NASDAQ:PTON) Price Target Cut to $3.25

Peloton Interactive (NASDAQ:PTON) had its target price decreased by research analysts at Bank of America from $4.00 to $3.25 in a research report issued on Monday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price suggests a potential upside of 4.50% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a research report on Monday. Morgan Stanley began coverage on shares of Peloton Interactive in a research report on Monday, March 11th. They issued an “equal weight” rating and a $3.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Truist Financial dropped their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus target price of $7.40.

Peloton Interactive Price Performance

Shares of PTON stock opened at $3.11 on Monday. The stock has a market cap of $1.14 billion, a P/E ratio of -1.27 and a beta of 1.96. The company has a fifty day moving average price of $3.99 and a two-hundred day moving average price of $4.91. Peloton Interactive has a one year low of $2.91 and a one year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings data on Thursday, February 1st. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.01. The company had revenue of $743.60 million during the quarter, compared to the consensus estimate of $733.17 million. Peloton Interactive’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.98) earnings per share. As a group, equities research analysts anticipate that Peloton Interactive will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Karen Boone sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $4.33, for a total value of $216,500.00. Following the sale, the director now directly owns 34,966 shares in the company, valued at approximately $151,402.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the completion of the sale, the chief financial officer now owns 104,428 shares in the company, valued at $453,217.52. The disclosure for this sale can be found here. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Peloton Interactive by 6.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,983 shares of the company’s stock valued at $195,000 after purchasing an additional 1,921 shares in the last quarter. FAS Wealth Partners Inc. boosted its position in Peloton Interactive by 15.1% during the 3rd quarter. FAS Wealth Partners Inc. now owns 16,386 shares of the company’s stock worth $83,000 after buying an additional 2,150 shares during the period. Principal Financial Group Inc. boosted its position in Peloton Interactive by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 91,109 shares of the company’s stock worth $460,000 after buying an additional 3,071 shares during the period. Arizona State Retirement System boosted its position in Peloton Interactive by 4.2% during the 3rd quarter. Arizona State Retirement System now owns 90,921 shares of the company’s stock worth $459,000 after buying an additional 3,632 shares during the period. Finally, M&T Bank Corp boosted its position in Peloton Interactive by 25.4% during the 3rd quarter. M&T Bank Corp now owns 18,002 shares of the company’s stock worth $91,000 after buying an additional 3,643 shares during the period. 77.01% of the stock is currently owned by institutional investors and hedge funds.

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.