Peloton Interactive (NASDAQ:PTON) PT Lowered to $7.00 at JPMorgan Chase & Co.

Peloton Interactive (NASDAQ:PTON) had its price target trimmed by JPMorgan Chase & Co. from $8.00 to $7.00 in a research note published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on PTON. Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a research note on Friday. Telsey Advisory Group reissued a market perform rating and issued a $4.00 price target (down from $5.00) on shares of Peloton Interactive in a report on Monday, April 29th. BMO Capital Markets decreased their price objective on Peloton Interactive from $7.50 to $6.50 and set a market perform rating on the stock in a research note on Friday. Sanford C. Bernstein downgraded shares of Peloton Interactive from an outperform rating to a market perform rating and cut their target price for the company from $8.00 to $3.80 in a research note on Friday. Finally, Macquarie decreased their price target on shares of Peloton Interactive from $4.50 to $2.53 and set a neutral rating on the stock in a research note on Friday. Three equities research 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. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $6.15.

Peloton Interactive Trading Up 9.3 %

Shares of Peloton Interactive stock opened at $3.42 on Friday. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87. The company’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $4.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly 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 firm had revenue of $717.70 million during the quarter, compared to analyst estimates of $720.85 million. During the same period in the previous year, the business earned ($0.79) earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Equities analysts expect that Peloton Interactive will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction on 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 owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of large investors have recently modified their holdings of the stock. Johnson & White Wealth Management LLC acquired a new stake in Peloton Interactive in the first quarter valued at approximately $43,000. Abundance Wealth Counselors acquired a new stake in Peloton Interactive during the 1st quarter valued at $46,000. Rakuten Securities Inc. acquired a new stake in Peloton Interactive during the 4th quarter valued at $47,000. Carl P. Sherr & Co. LLC purchased a new stake in Peloton Interactive during the 3rd quarter worth $55,000. Finally, Clear Harbor Asset Management LLC purchased a new position in Peloton Interactive in the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.