Macquarie Increases Peloton Interactive (NASDAQ:PTON) Price Target to $9.00

Peloton Interactive (NASDAQ:PTON) had its target price increased by Macquarie from $4.90 to $9.00 in a research report released on Friday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Peloton Interactive from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Robert W. Baird raised their target price on Peloton Interactive from $4.75 to $8.00 and gave the stock a “neutral” rating in a report on Friday. Sanford C. Bernstein raised their price objective on Peloton Interactive from $3.80 to $4.25 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Peloton Interactive in a report on Friday. Sixteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Peloton Interactive has a consensus rating of “Hold” and an average price target of $6.57.

Peloton Interactive Trading Up 3.6 %

Peloton Interactive stock opened at $7.51 on Friday. The stock has a 50-day moving average of $5.17 and a two-hundred day moving average of $4.10. Peloton Interactive has a one year low of $2.70 and a one year high of $8.92.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analyst estimates of $572.97 million. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.44) earnings per share. As a group, sell-side analysts forecast that Peloton Interactive will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Karen Boone sold 13,484 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $8.27, for a total value of $111,512.68. Following the sale, the chief executive officer now owns 211,459 shares in the company, valued at $1,748,765.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Peloton Interactive news, CEO Karen Boone sold 13,484 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $8.27, for a total transaction of $111,512.68. Following the completion of the transaction, the chief executive officer now owns 211,459 shares of the company’s stock, valued at approximately $1,748,765.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the transaction, the chief accounting officer now directly owns 87,014 shares of the company’s stock, valued at $424,628.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,888 shares of company stock worth $1,038,717. Company insiders own 1.34% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently made changes to their positions in the business. Abundance Wealth Counselors boosted its holdings in shares of Peloton Interactive by 24.7% during the second quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock worth $45,000 after purchasing an additional 2,654 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Peloton Interactive by 2.7% during the second quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock worth $384,000 after purchasing an additional 3,032 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Peloton Interactive by 3.8% during the second quarter. Arizona State Retirement System now owns 92,781 shares of the company’s stock worth $314,000 after purchasing an additional 3,377 shares during the last quarter. Kohmann Bosshard Financial Services LLC boosted its holdings in Peloton Interactive by 50.0% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock valued at $70,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Peloton Interactive by 4.3% in the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after acquiring an additional 5,463 shares during the last quarter. Institutional investors and hedge funds 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.