Peloton Interactive (NASDAQ:PTON) Price Target Cut to $6.50 by Analysts at BMO Capital Markets

Peloton Interactive (NASDAQ:PTON) had its target price cut by BMO Capital Markets from $7.50 to $6.50 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts have also issued reports about the stock. Sanford C. Bernstein lowered shares of Peloton Interactive from an outperform rating to a market perform rating and cut their price objective for the company from $8.00 to $3.80 in a research report on Friday. Bank of America cut their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating for the company in a research report on Monday, April 29th. Telsey Advisory Group restated a market perform rating and issued a $4.00 price objective (down from $5.00) on shares of Peloton Interactive in a research report on Monday, April 29th. Macquarie cut their price objective on shares of Peloton Interactive from $4.50 to $2.53 and set a neutral rating for the company in a research report on Friday. Finally, Truist Financial dropped their target price on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating for the company in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $5.70.

Peloton Interactive Stock Up 0.9 %

Peloton Interactive stock traded up $0.03 during midday trading on Friday, reaching $3.46. The stock had a trading volume of 2,838,353 shares, compared to its average volume of 14,800,354. The firm has a market capitalization of $1.27 billion, a PE ratio of -1.62 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 firm’s 50-day moving average price is $3.93 and its 200 day moving average price is $4.87.

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

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at approximately $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently made changes to their positions in the company. Capital World Investors raised its stake in shares of Peloton Interactive by 17.6% in the fourth 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 during the last quarter. Norges Bank purchased a new position in shares of Peloton Interactive in the fourth quarter worth $20,824,000. DNB Asset Management AS raised its stake in shares of Peloton Interactive by 31.7% in the fourth 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 during the last quarter. Patient Capital Management LLC increased its position in Peloton Interactive by 32.7% during the fourth quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after acquiring an additional 1,527,471 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Peloton Interactive by 612.1% during the third quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after acquiring an additional 1,061,868 shares during the last quarter. 77.01% of the stock is currently owned by institutional investors.

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.