Peloton Interactive (NASDAQ:PTON) Price Target Raised to $10.00

Peloton Interactive (NASDAQ:PTON) had its target price increased by Truist Financial from $6.00 to $10.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price target on Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday. Canaccord Genuity Group raised their price objective on shares of Peloton Interactive from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Roth Mkm boosted their price objective on shares of Peloton Interactive from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. TD Cowen increased their target price on shares of Peloton Interactive from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein boosted their price target on shares of Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.05.

Peloton Interactive Stock Performance

PTON stock opened at $7.25 on Friday. The stock has a fifty day moving average of $5.11 and a 200-day moving average of $4.07. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week high of $8.92. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -6.78 and a beta of 1.92.

Peloton Interactive (NASDAQ:PTON) last posted its earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to analysts’ expectations of $572.97 million. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned ($0.44) EPS. Equities analysts predict that Peloton Interactive will post -0.65 EPS for the current year.

Insider Buying and Selling

In other Peloton Interactive news, CEO Chris Bruzzo sold 24,977 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the transaction, the chief executive officer now directly owns 149,240 shares in the company, valued at $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Nick V. Caldwell bought 31,337 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the acquisition, the insider now directly owns 31,337 shares of the company’s stock, valued at $133,182.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Bruzzo sold 24,977 shares of Peloton Interactive stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.80, for a total value of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares in the company, valued at $865,592. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 167,880 shares of company stock worth $815,767 in the last quarter. 1.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new stake in Peloton Interactive during the 2nd quarter valued at $27,000. Skylands Capital LLC bought a new position in shares of Peloton Interactive during the second quarter valued at about $30,000. Nisa Investment Advisors LLC boosted its holdings in shares of Peloton Interactive by 1,836.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,490 shares of the company’s stock worth $32,000 after purchasing an additional 9,000 shares during the period. Schneider Downs Wealth Management Advisors LP bought a new stake in shares of Peloton Interactive in the second quarter worth about $35,000. Finally, CIBC Asset Management Inc purchased a new position in Peloton Interactive during the 2nd quarter valued at about $35,000. Institutional investors 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.