Peloton Interactive (NASDAQ:PTON) Upgraded to “Outperform” at Macquarie

Macquarie upgraded shares of Peloton Interactive (NASDAQ:PTON) from a neutral rating to an outperform rating in a report issued on Tuesday, Marketbeat Ratings reports. Macquarie currently has $10.00 price target on the stock, up from their prior price target of $9.00.

Several other equities analysts have also weighed in on PTON. Deutsche Bank Aktiengesellschaft raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $6.60 target price for the company in a report on Monday, April 14th. Telsey Advisory Group cut their target price on shares of Peloton Interactive from $11.00 to $9.00 and set a “market perform” rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Peloton Interactive from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Morgan Stanley cut their target price on shares of Peloton Interactive from $5.75 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Finally, Canaccord Genuity Group raised shares of Peloton Interactive from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Friday, March 14th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Peloton Interactive has a consensus rating of “Hold” and a consensus target price of $8.30.

Peloton Interactive Trading Up 2.6%

PTON opened at $6.81 on Tuesday. Peloton Interactive has a 12-month low of $2.83 and a 12-month high of $10.90. The firm has a market capitalization of $2.66 billion, a PE ratio of -8.84 and a beta of 2.25. The firm has a 50 day moving average of $6.20 and a two-hundred day moving average of $7.81.

Peloton Interactive (NASDAQ:PTON) last posted 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. The company’s revenue was down 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.45) earnings per share. As a group, analysts predict that Peloton Interactive will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 170,819 shares of Peloton Interactive stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $9.62, for a total transaction of $1,643,278.78. Following the sale, the chief financial officer now owns 275,212 shares of the company’s stock, valued at $2,647,539.44. The trade was a 38.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Saqib Baig sold 22,662 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.75, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 674,338 shares of company stock valued at $5,522,838 in the last 90 days. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.