Argus Upgrades Peloton Interactive (NASDAQ:PTON) to Buy

Peloton Interactive (NASDAQ:PTON) was upgraded by equities researchers at Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The firm currently has a $15.00 price target on the stock. Argus’ price target suggests a potential upside of 63.40% from the stock’s current price.

Several other analysts have also recently issued reports on PTON. JPMorgan Chase & Co. upped their target price on shares of Peloton Interactive from $5.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group upped their target price on shares of Peloton Interactive from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Monday. Macquarie reissued a “neutral” rating and issued a $9.00 price objective on shares of Peloton Interactive in a research report on Monday. Robert W. Baird increased their price objective on shares of Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein increased their price objective on shares of Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Sixteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus target price of $8.38.

Peloton Interactive Stock Up 5.0 %

Shares of PTON stock opened at $9.18 on Tuesday. The company’s fifty day simple moving average is $8.88 and its two-hundred day simple moving average is $6.75. The stock has a market cap of $3.50 billion, a P/E ratio of -11.92 and a beta of 1.95. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, February 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, analysts anticipate that Peloton Interactive will post -0.39 EPS for the current fiscal year.

Insider Activity

In other news, CAO Saqib Baig sold 36,776 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.53, for a total transaction of $276,923.28. Following the transaction, the chief accounting officer now directly owns 137,357 shares in the company, valued at approximately $1,034,298.21. This trade represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew S. Rendich sold 138,391 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $7.51, for a total transaction of $1,039,316.41. Following the transaction, the insider now owns 287,973 shares in the company, valued at approximately $2,162,677.23. This represents a 32.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 395,813 shares of company stock worth $3,041,724. Corporate insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

A number of hedge funds and other institutional investors have recently modified their holdings of PTON. R Squared Ltd purchased a new stake in Peloton Interactive during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Peloton Interactive by 31.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,605 shares of the company’s stock valued at $31,000 after acquiring an additional 1,597 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Peloton Interactive during the fourth quarter valued at approximately $69,000. C M Bidwell & Associates Ltd. purchased a new stake in Peloton Interactive during the fourth quarter valued at approximately $72,000. Finally, Jones Financial Companies Lllp lifted its position in Peloton Interactive by 33.9% during the fourth quarter. Jones Financial Companies Lllp now owns 9,496 shares of the company’s stock valued at $83,000 after acquiring an additional 2,403 shares during the last quarter. 77.01% of the stock is currently 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.