Telsey Advisory Group Equities Analysts Decrease Earnings Estimates for Peloton Interactive, Inc. (NASDAQ:PTON)

Peloton Interactive, Inc. (NASDAQ:PTON) – Investment analysts at Telsey Advisory Group dropped their Q3 2024 earnings per share (EPS) estimates for Peloton Interactive in a research report issued to clients and investors on Monday, April 29th. Telsey Advisory Group analyst D. Telsey now anticipates that the company will post earnings per share of ($0.47) for the quarter, down from their prior estimate of ($0.38). Telsey Advisory Group has a “Market Perform” rating and a $4.00 price target on the stock. The consensus estimate for Peloton Interactive’s current full-year earnings is ($1.61) per share. Telsey Advisory Group also issued estimates for Peloton Interactive’s Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.73) EPS and FY2025 earnings at ($1.56) EPS.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Peloton Interactive from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday. Bank of America cut their price objective on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a research report on Monday, April 29th. Morgan Stanley assumed coverage on Peloton Interactive in a research note on Monday, March 11th. They issued an “equal weight” rating and a $3.00 target price for the company. Macquarie dropped their target price on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating on the stock in a report on Friday. Finally, Roth Mkm decreased their price target on Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $6.15.

Peloton Interactive Stock Up 9.4 %

Shares of PTON stock opened at $3.43 on Thursday. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $9.87. The firm’s 50 day moving average price is $3.94 and its two-hundred day moving average price is $4.88. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million during the quarter, compared to analyst estimates of $720.85 million. Peloton Interactive’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.79) earnings per share.

Institutional Trading of Peloton Interactive

A number of institutional investors and hedge funds have recently made changes to their positions in PTON. Capital World Investors grew its stake in Peloton Interactive by 17.6% during the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after buying an additional 3,925,000 shares during the last quarter. Norges Bank acquired a new position in shares of Peloton Interactive during the fourth quarter valued at $20,824,000. DNB Asset Management AS grew its position in shares of Peloton Interactive by 31.7% during the fourth quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after acquiring an additional 2,020,159 shares during the last quarter. Patient Capital Management LLC increased its holdings in shares of Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after acquiring an additional 1,527,471 shares during the period. Finally, AQR Capital Management LLC lifted its position in Peloton Interactive by 612.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after purchasing an additional 1,061,868 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.28% 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.