Peloton Interactive (NASDAQ:PTON) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Peloton Interactive (NASDAQ:PTON) in a research note issued to investors on Tuesday morning, Benzinga reports.

PTON has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on shares of Peloton Interactive from $8.00 to $7.00 and set an overweight rating for the company in a research report on Friday, May 3rd. Roth Mkm decreased their target price on Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Citigroup downgraded shares of Peloton Interactive from a buy rating to a neutral rating and reduced their price target for the company from $8.00 to $4.00 in a research note on Monday. Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a research note on Friday, May 3rd. Finally, Bank of America lowered their price target 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. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Peloton Interactive currently has an average rating of Hold and a consensus target price of $5.70.

Peloton Interactive Price Performance

Shares of NASDAQ:PTON opened at $4.09 on Tuesday. The company has a market capitalization of $1.50 billion, a P/E ratio of -1.94 and a beta of 2.01. The business’s 50 day simple moving average is $3.89 and its 200 day simple moving average is $4.85. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly 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 company had revenue of $717.70 million during the quarter, compared to the consensus estimate of $720.85 million. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.79) EPS. On average, sell-side analysts anticipate that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the 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 completion of 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 document filed with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PTON. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 735,658 shares during the last quarter. Capital World Investors raised its position 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 acquiring an additional 3,925,000 shares during the period. DNB Asset Management AS grew its position in shares of Peloton Interactive by 31.7% during the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after acquiring an additional 2,020,159 shares during the period. 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 purchased a new position in Peloton Interactive in the fourth quarter valued at approximately $20,824,000. 77.01% of the stock is owned by 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.