Robert W. Baird Boosts Peloton (NASDAQ:PTON) Price Target to $35.00

Peloton (NASDAQ:PTON) had its price objective hoisted by Robert W. Baird from $29.00 to $35.00 in a report issued on Friday morning, Benzinga reports.

A number of other analysts have also recently weighed in on PTON. Evercore ISI started coverage on shares of Peloton in a report on Monday, October 21st. They issued an outperform rating and a $30.00 price target on the stock. Needham & Company LLC restated a buy rating and issued a $30.00 price target on shares of Peloton in a report on Tuesday, November 5th. SunTrust Banks assumed coverage on shares of Peloton in a report on Monday, October 21st. They issued a buy rating and a $30.00 price target on the stock. Raymond James assumed coverage on shares of Peloton in a research note on Monday, October 21st. They issued an outperform rating and a $32.00 target price for the company. Finally, Bank of America assumed coverage on shares of Peloton in a research note on Monday, October 21st. They issued a buy rating and a $29.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $31.56.

NASDAQ:PTON opened at $35.23 on Friday. Peloton has a fifty-two week low of $20.46 and a fifty-two week high of $35.75. The company has a current ratio of 5.34, a quick ratio of 4.71 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $22.25.

Peloton (NASDAQ:PTON) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($1.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.89). The firm had revenue of $228.00 million for the quarter, compared to analyst estimates of $199.35 million. The company’s revenue was up 103.4% compared to the same quarter last year. As a group, equities research analysts forecast that Peloton will post -1.16 EPS for the current year.

In other news, insider X Cycle L.P. Tcv bought 1,724,137 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $29.00 per share, with a total value of $49,999,973.00. Also, Director Howard C. Draft bought 68,965 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average cost of $29.00 per share, with a total value of $1,999,985.00.

Several large investors have recently bought and sold shares of the company. Soros Fund Management LLC purchased a new position in shares of Peloton during the 3rd quarter valued at approximately $39,533,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Peloton during the 3rd quarter valued at approximately $35,993,000. Millennium Management LLC purchased a new position in shares of Peloton during the 3rd quarter valued at approximately $18,860,000. Canyon Capital Advisors LLC purchased a new position in shares of Peloton during the 3rd quarter valued at approximately $6,275,000. Finally, Pictet Asset Management Ltd. purchased a new position in shares of Peloton during the 3rd quarter valued at approximately $5,020,000. 21.46% of the stock is owned by hedge funds and other institutional investors.

About Peloton

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

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Analyst Recommendations for Peloton (NASDAQ:PTON)

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