Peloton Interactive (NASDAQ:PTON) PT Raised to $4.00

Peloton Interactive (NASDAQ:PTON) had its price target upped by equities research analysts at Robert W. Baird from $3.50 to $4.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 16.62% from the company’s current price.

A number of other brokerages also recently weighed in on PTON. Macquarie lowered their price target on Peloton Interactive from $4.50 to $2.53 and set a “neutral” rating for the company in a report on Friday, May 3rd. Bank of America lowered their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a research note on Monday, April 29th. Citigroup downgraded shares of Peloton Interactive from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.00 to $4.00 in a research report on Monday, May 6th. The Goldman Sachs Group lowered their price objective on shares of Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Finally, Oppenheimer reiterated an “outperform” rating on shares of Peloton Interactive in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $5.14.

Peloton Interactive Price Performance

PTON opened at $3.43 on Tuesday. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87. The stock has a market capitalization of $1.27 billion, a PE ratio of -1.63 and a beta of 2.01. The firm’s fifty day moving average price is $3.77 and its 200 day moving average price is $4.79.

Peloton Interactive (NASDAQ:PTON) last released its 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 the consensus estimate of $720.85 million. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.79) earnings per share. On average, equities research analysts forecast that Peloton Interactive will post -1.62 earnings per share for the current fiscal year.

Insider Transactions at Peloton Interactive

In related news, insider Andrew S. Rendich sold 27,741 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $3.91, for a total transaction of $108,467.31. Following the transaction, the insider now owns 113,288 shares in the company, valued at $442,956.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Andrew S. Rendich sold 27,741 shares of Peloton Interactive stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $3.91, for a total transaction of $108,467.31. Following the transaction, the insider now directly owns 113,288 shares of the company’s stock, valued at $442,956.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Elizabeth F. Coddington sold 8,977 shares of the company’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 sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Peloton Interactive by 0.8% during the third quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock worth $149,499,000 after purchasing an additional 248,314 shares during the period. Versor Investments LP purchased a new stake in Peloton Interactive during the fourth quarter valued at about $202,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Peloton Interactive by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,232,786 shares of the company’s stock worth $11,276,000 after buying an additional 234,729 shares during the period. Clear Harbor Asset Management LLC purchased a new position in shares of Peloton Interactive in the fourth quarter worth approximately $78,000. Finally, Mak Capital One LLC acquired a new stake in shares of Peloton Interactive during the third quarter valued at approximately $4,932,000. 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.