Peloton Interactive (NASDAQ:PTON) PT Lowered to $2.53

Peloton Interactive (NASDAQ:PTON) had its price objective cut by Macquarie from $4.50 to $2.53 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently commented on the company. Sanford C. Bernstein downgraded Peloton Interactive from an outperform rating to a market perform rating and dropped their price target for the stock from $8.00 to $3.80 in a research report on Friday. Morgan Stanley began coverage on shares of Peloton Interactive in a report on Monday, March 11th. They set an equal weight rating and a $3.00 price objective on the stock. Truist Financial decreased their target price on Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research report on Friday, February 2nd. Roth Mkm reduced their price objective on Peloton Interactive from $7.00 to $5.00 and set a buy rating for the company in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $5.70.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock traded up $0.04 during midday trading on Friday, reaching $3.47. 2,416,946 shares of the company’s stock traded hands, compared to its average volume of 14,783,824. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -1.62 and a beta of 2.01. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $9.87. The company’s 50 day simple moving average is $3.93 and its 200 day simple moving average is $4.87.

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 analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. Peloton Interactive’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the company posted ($0.79) earnings per share. As a group, equities research analysts predict that Peloton Interactive will post -1.61 earnings per share for the current year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds have recently made changes to their positions in the business. Johnson & White Wealth Management LLC acquired a new position in Peloton Interactive during the first quarter worth $43,000. Abundance Wealth Counselors bought a new stake in Peloton Interactive during the 1st quarter worth about $46,000. Rakuten Securities Inc. acquired a new position in shares of Peloton Interactive during the 4th quarter worth about $47,000. Carl P. Sherr & Co. LLC bought a new position in shares of Peloton Interactive in the 3rd quarter valued at about $55,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Peloton Interactive in the 4th quarter valued at about $78,000. 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.