Peloton Interactive (NASDAQ:PTON) Earns “Hold” Rating from Needham & Company LLC

Peloton Interactive (NASDAQ:PTON)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports.

Several other brokerages have also recently commented on PTON. JMP Securities reissued a “market perform” rating on shares of Peloton Interactive in a research report on Monday, April 14th. Telsey Advisory Group lowered their target price on Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday, May 5th. Citigroup cut their price target on Peloton Interactive from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Canaccord Genuity Group raised Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, March 14th. Finally, Argus raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday, February 11th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.30.

Peloton Interactive Trading Down 5.4 %

PTON stock opened at $6.16 on Friday. The business’s fifty day moving average price is $6.20 and its 200 day moving average price is $7.80. Peloton Interactive has a 12-month low of $2.83 and a 12-month high of $10.90. The company has a market capitalization of $2.40 billion, a PE ratio of -8.00 and a beta of 2.25.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $624.00 million for the quarter, compared to the consensus estimate of $620.39 million. During the same quarter in the previous year, the business earned ($0.45) EPS. Peloton Interactive’s revenue for the quarter was down 13.1% on a year-over-year basis. Research analysts predict that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 22,662 shares of Peloton Interactive stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total value of $220,954.50. Following the transaction, the chief accounting officer now directly owns 130,031 shares in the company, valued at approximately $1,267,802.25. The trade was a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nick V. Caldwell sold 68,727 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $6.59, for a total transaction of $452,910.93. Following the sale, the insider now owns 474,234 shares of the company’s stock, valued at $3,125,202.06. This trade represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 674,338 shares of company stock valued at $5,522,838 in the last three months. 1.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Large investors have recently modified their holdings of the stock. Franklin Resources Inc. purchased a new position in Peloton Interactive during the 3rd quarter worth $505,000. Everence Capital Management Inc. purchased a new position in Peloton Interactive during the fourth quarter worth about $125,000. Assenagon Asset Management S.A. acquired a new stake in Peloton Interactive in the fourth quarter valued at about $39,992,000. Hennessy Advisors Inc. purchased a new stake in Peloton Interactive in the 4th quarter valued at approximately $85,260,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in Peloton Interactive during the 4th quarter worth approximately $104,000. 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.