Robert W. Baird Raises Peloton Interactive (NASDAQ:PTON) Price Target to $4.00

Peloton Interactive (NASDAQ:PTON) had its price target boosted by Robert W. Baird from $3.50 to $4.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Roth Mkm decreased their price objective on shares of Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. reduced their target price on shares of Peloton Interactive from $8.00 to $7.00 and set an overweight rating on the stock in a research note on Friday, May 3rd. Citigroup cut shares of Peloton Interactive from a buy rating to a neutral rating and decreased their price objective for the company from $8.00 to $4.00 in a report on Monday, May 6th. Truist Financial cut their price target on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a research note on Friday, February 2nd. Finally, Morgan Stanley began coverage on shares of Peloton Interactive in a research note 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, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $5.14.

Peloton Interactive Stock Down 2.5 %

NASDAQ PTON opened at $3.15 on Tuesday. The company has a fifty day simple moving average of $3.72 and a 200 day simple moving average of $4.77. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87.

Peloton Interactive (NASDAQ:PTON) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The business had revenue of $717.70 million for the quarter, compared to analysts’ expectations of $720.85 million. During the same period in the previous year, the business posted ($0.79) earnings per share. Peloton Interactive’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, sell-side analysts expect that Peloton Interactive will post -1.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew S. Rendich sold 27,741 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the sale, the insider now directly owns 113,288 shares of the company’s stock, valued at $442,956.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Peloton Interactive news, insider Andrew S. Rendich sold 27,741 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $3.91, for a total value of $108,467.31. Following the transaction, the insider now owns 113,288 shares of the company’s stock, valued at $442,956.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the completion of the transaction, the chief financial officer now directly owns 104,428 shares in the company, valued at approximately $453,217.52. The disclosure for this sale can be found here. 3.28% of the stock is owned by insiders.

Institutional Trading of Peloton Interactive

Several institutional investors have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Peloton Interactive in the 1st quarter worth $5,877,000. Evergreen Wealth Solutions LLC purchased a new position in Peloton Interactive during the 1st quarter worth $48,000. Sheaff Brock Investment Advisors LLC purchased a new position in Peloton Interactive during the 1st quarter worth $44,000. Vanguard Group Inc. grew its stake in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after buying an additional 1,215,397 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Peloton Interactive by 25,397.7% during the 1st quarter. Russell Investments Group Ltd. now owns 393,685 shares of the company’s stock worth $1,687,000 after buying an additional 392,141 shares during the last quarter. Hedge funds and other 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.