Peloton Interactive (NASDAQ:PTON) Price Target Cut to $3.50 by Analysts at Robert W. Baird

Peloton Interactive (NASDAQ:PTON) had its target price lowered by Robert W. Baird from $5.00 to $3.50 in a research report released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America cut their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a report on Monday, April 29th. The Goldman Sachs Group lowered their target price on shares of Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a research note on Friday, February 2nd. Morgan Stanley started coverage on Peloton Interactive in a research note on Monday, March 11th. They issued an equal weight rating and a $3.00 price target for the company. Telsey Advisory Group reiterated a market perform rating and set a $4.00 price target (down previously from $5.00) on shares of Peloton Interactive in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. cut their price objective on Peloton Interactive from $9.00 to $8.00 and set an overweight rating for the company in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $5.70.

Peloton Interactive Stock Performance

NASDAQ:PTON opened at $3.54 on Friday. The firm’s fifty day moving average is $3.90 and its two-hundred day moving average is $4.86. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -1.68 and a beta of 2.01. Peloton Interactive has a one year low of $2.70 and a one year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The firm had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.79) EPS. As a group, equities research analysts predict that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Institutional Trading of Peloton Interactive

Several hedge funds have recently made changes to their positions in PTON. 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 valued at $654,000 after buying an additional 80,047 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Peloton Interactive by 149.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock valued at $281,000 after purchasing an additional 33,307 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of 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 grew its holdings in shares of Peloton Interactive by 18.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock worth $258,000 after purchasing an additional 7,875 shares during the period. Finally, Calamos Wealth Management LLC increased its position in shares of 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. Hedge funds and other institutional investors own 77.01% 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.