Peloton Interactive (NASDAQ:PTON) Rating Lowered to Market Perform at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Peloton Interactive (NASDAQ:PTON) from an outperform rating to a market perform rating in a research note released on Friday morning, MarketBeat reports. They currently have $3.80 target price on the stock, down from their previous target price of $8.00.

A number of other research analysts have also recently commented on PTON. Telsey Advisory Group reaffirmed a market perform rating and issued a $4.00 target price (down previously from $5.00) on shares of Peloton Interactive in a research report on Monday, April 29th. Bank of America decreased their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. decreased their target price 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. Morgan Stanley started coverage on shares of Peloton Interactive in a research report on Monday, March 11th. They issued an equal weight rating and a $3.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target 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. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Peloton Interactive has a consensus rating of Hold and an average target price of $6.15.

Peloton Interactive Trading Up 9.3 %

Shares of PTON stock opened at $3.42 on Friday. The company’s 50-day moving average price is $3.93 and its 200-day moving average price is $4.87. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $9.87.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $720.85 million. During the same quarter last year, the firm posted ($0.79) earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Peloton Interactive will post -1.61 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred 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 directly owns 104,428 shares in the company, valued at $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Hedge funds have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. purchased a new position in shares of Peloton Interactive during the first quarter worth approximately $94,000. Lee Johnson Capital Management LLC purchased a new position in shares of Peloton Interactive during the first quarter worth approximately $2,837,000. Abundance Wealth Counselors purchased a new position in shares of Peloton Interactive during the first quarter worth approximately $46,000. State of Michigan Retirement System grew its position in shares of Peloton Interactive by 412.1% during the first quarter. State of Michigan Retirement System now owns 596,477 shares of the company’s stock worth $2,556,000 after acquiring an additional 480,000 shares during the last quarter. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Peloton Interactive during the first quarter worth $43,000. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

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.