Peloton Interactive (NASDAQ:PTON) Given Hold Rating at Needham & Company LLC

Peloton Interactive (NASDAQ:PTON)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Bank of America dropped their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a report on Monday, April 29th. Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $3.80 in a research note on Friday. Robert W. Baird dropped their price target on Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Friday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.15.

Peloton Interactive Trading Up 9.4 %

Shares of PTON stock opened at $3.43 on Friday. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87. The business’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $4.87. The company has a market cap of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The company had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. Peloton Interactive’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.79) earnings per share. On average, equities analysts forecast that Peloton Interactive will post -1.61 earnings per share for the current year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC raised its position in shares of Peloton Interactive by 162.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 129,454 shares of the company’s stock worth $654,000 after purchasing an additional 80,047 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Peloton Interactive by 149.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock valued at $281,000 after acquiring an additional 33,307 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Peloton Interactive by 73.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 30,062 shares of the company’s stock valued at $152,000 after purchasing an additional 12,697 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Peloton Interactive by 18.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock valued at $258,000 after purchasing an additional 7,875 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its stake in Peloton Interactive by 1.2% during the 3rd quarter. Calamos Wealth Management LLC now owns 824,714 shares of the company’s stock worth $4,165,000 after purchasing an additional 10,100 shares during the last quarter. 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.