Peloton Interactive’s (PTON) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Peloton Interactive (NASDAQ:PTON) in a report published on Thursday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

A number of other research analysts have also issued reports on PTON. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Thursday, August 7th. Telsey Advisory Group boosted their price target on shares of Peloton Interactive from $8.00 to $9.00 and gave the company a “market perform” rating in a report on Thursday. Truist Financial set a $11.00 price target on shares of Peloton Interactive in a research report on Thursday, August 7th. UBS Group upgraded shares of Peloton Interactive from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.50 to $11.00 in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group upgraded shares of Peloton Interactive from a “neutral” rating to a “buy” rating and upped their target price for the stock from $7.00 to $11.50 in a research report on Friday, August 8th. Eight analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Peloton Interactive currently has a consensus rating of “Hold” and a consensus target price of $9.36.

Peloton Interactive Stock Down 1.2%

PTON opened at $8.58 on Thursday. The company’s 50-day moving average price is $7.86 and its 200 day moving average price is $6.97. Peloton Interactive has a fifty-two week low of $4.52 and a fifty-two week high of $10.90. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -27.68, a price-to-earnings-growth ratio of 3.30 and a beta of 2.27.

Peloton Interactive (NASDAQ:PTON) last issued its earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $606.90 million during the quarter, compared to analyst estimates of $580.29 million. The business’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Peloton Interactive has set its FY 2025 guidance at EPS. Research analysts anticipate that Peloton Interactive will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Nick V. Caldwell sold 206,901 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $7.78, for a total transaction of $1,609,689.78. Following the sale, the insider directly owned 737,788 shares of the company’s stock, valued at $5,739,990.64. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dion C. Sanders sold 127,911 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $7.78, for a total value of $995,147.58. Following the sale, the insider directly owned 110,753 shares of the company’s stock, valued at approximately $861,658.34. This represents a 53.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,851,961 shares of company stock valued at $14,775,168. Insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Peloton Interactive in the 1st quarter worth approximately $37,000. Bessemer Group Inc. lifted its holdings in shares of Peloton Interactive by 1,602.6% in the second quarter. Bessemer Group Inc. now owns 5,312 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares in the last quarter. MAI Capital Management boosted its position in shares of Peloton Interactive by 64.6% in the second quarter. MAI Capital Management now owns 5,498 shares of the company’s stock worth $38,000 after buying an additional 2,158 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Peloton Interactive by 40.2% during the first quarter. Nisa Investment Advisors LLC now owns 6,503 shares of the company’s stock valued at $41,000 after buying an additional 1,864 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Peloton Interactive by 1,082.5% during the first quarter. GAMMA Investing LLC now owns 8,159 shares of the company’s stock valued at $52,000 after buying an additional 7,469 shares during the period. Institutional investors and hedge funds 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.