Macquarie Trims Peloton Interactive (NASDAQ:PTON) Target Price to $2.53

Peloton Interactive (NASDAQ:PTON) had its target price lowered by stock analysts at Macquarie from $4.50 to $2.53 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Macquarie’s price target indicates a potential downside of 26.13% from the company’s previous close.

PTON has been the subject of several other research reports. JPMorgan Chase & Co. cut their target price on Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, February 2nd. Needham & Company LLC restated a “hold” rating on shares of Peloton Interactive in a research report on Friday. Sanford C. Bernstein lowered shares of Peloton Interactive from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $8.00 to $3.80 in a report on Friday. The Goldman Sachs Group cut their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a report on Friday, February 2nd. Finally, Morgan Stanley began coverage on shares of Peloton Interactive in a report on Monday, March 11th. They issued an “equal weight” rating and a $3.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.15.

Peloton Interactive Stock Performance

NASDAQ PTON traded up $0.29 during trading on Friday, hitting $3.43. 34,761,060 shares of the company’s stock traded hands, compared to its average volume of 14,940,079. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -1.40 and a beta of 2.01. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87. The business has a 50 day moving average of $3.94 and a 200-day moving average of $4.88.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The firm had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.79) earnings per share. On average, analysts expect that Peloton Interactive will post -1.61 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Elizabeth F. Coddington sold 8,977 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

A number of large investors have recently added to or reduced their stakes in PTON. Vanguard Group Inc. grew its stake in shares of Peloton Interactive by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 30,339,435 shares of the company’s stock worth $184,767,000 after purchasing an additional 735,658 shares during the last quarter. Capital World Investors raised its holdings in Peloton Interactive by 17.6% in the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock worth $159,919,000 after purchasing an additional 3,925,000 shares in the last quarter. DNB Asset Management AS raised its holdings in Peloton Interactive by 31.7% in the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock worth $51,076,000 after purchasing an additional 2,020,159 shares in the last quarter. Patient Capital Management LLC lifted its position in shares of Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock worth $37,735,000 after purchasing an additional 1,527,471 shares during the period. Finally, Norges Bank bought a new stake in shares of Peloton Interactive during the 4th quarter valued at about $20,824,000. Institutional investors 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.