Peloton Interactive (NASDAQ:PTON) Rating Lowered to Neutral at Citigroup

Peloton Interactive (NASDAQ:PTON) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Monday, Briefing.com reports. They currently have a $4.00 target price on the stock, down from their prior target price of $8.00. Citigroup’s price target would suggest a potential upside of 16.96% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Truist Financial dropped their target price on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Roth Mkm reduced their price objective on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Sanford C. Bernstein downgraded Peloton Interactive from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $8.00 to $3.80 in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Friday. Finally, JPMorgan Chase & Co. decreased 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 report on Friday. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.70.

Peloton Interactive Stock Performance

Peloton Interactive stock opened at $3.42 on Monday. The company’s 50 day simple moving average is $3.93 and its 200-day simple moving average is $4.87. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last issued 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 firm had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.79) EPS. Equities analysts expect that Peloton Interactive will post -1.61 earnings per share 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 dated 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 transaction, the chief financial officer now owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Peloton Interactive by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock valued at $184,767,000 after purchasing an additional 735,658 shares during the last quarter. Capital World Investors increased its holdings in Peloton Interactive by 17.6% in the fourth 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. DNB Asset Management AS grew its position in Peloton Interactive by 31.7% in 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 in the last quarter. Patient Capital Management LLC increased its stake in shares of Peloton Interactive by 32.7% during the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after purchasing an additional 1,527,471 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Peloton Interactive during the 4th quarter valued at $20,824,000. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.