Peloton Interactive (NASDAQ:PTON) Price Target Lowered to $7.00 at The Goldman Sachs Group

Peloton Interactive (NASDAQ:PTON) had its target price decreased by equities researchers at The Goldman Sachs Group from $10.00 to $7.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 13.64% from the stock’s previous close.

A number of other analysts also recently commented on the company. Telsey Advisory Group decreased their target price on Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Monday, May 5th. Argus upgraded shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, February 11th. Macquarie restated a “neutral” rating and set a $9.00 target price on shares of Peloton Interactive in a report on Monday, February 10th. Bank of America cut their target price on shares of Peloton Interactive from $11.50 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Peloton Interactive in a research report on Friday. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive has an average rating of “Hold” and a consensus price target of $8.30.

Peloton Interactive Stock Down 5.4 %

NASDAQ:PTON opened at $6.16 on Friday. The firm’s fifty day simple moving average is $6.20 and its 200-day simple moving average is $7.80. The stock has a market cap of $2.40 billion, a PE ratio of -8.00 and a beta of 2.25. Peloton Interactive has a fifty-two week low of $2.83 and a fifty-two week high of $10.90.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 prior year, the firm earned ($0.45) EPS. The company’s revenue for the quarter was down 13.1% compared to the same quarter last year. Equities analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Andrew S. Rendich sold 121,883 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.54, for a total value of $1,162,763.82. Following the transaction, the insider now directly owns 404,188 shares of the company’s stock, valued at approximately $3,855,953.52. This trade represents a 23.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nick V. Caldwell sold 68,727 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $6.59, for a total value of $452,910.93. Following the sale, the insider now directly owns 474,234 shares of the company’s stock, valued at approximately $3,125,202.06. This trade represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 674,338 shares of company stock valued at $5,522,838. Insiders own 1.34% of the company’s stock.

Hedge Funds Weigh In On Peloton Interactive

Several hedge funds and other institutional investors have recently modified their holdings of PTON. R Squared Ltd purchased a new position in Peloton Interactive in the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. raised its stake in shares of Peloton Interactive by 969.6% in the 4th quarter. Russell Investments Group Ltd. now owns 4,011 shares of the company’s stock valued at $35,000 after acquiring an additional 3,636 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Peloton Interactive during the 1st quarter valued at $37,000. Nisa Investment Advisors LLC boosted its position in Peloton Interactive by 40.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock worth $41,000 after purchasing an additional 1,864 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Peloton Interactive by 1,082.5% in the 1st quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after purchasing an additional 7,469 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.

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.