Peloton Interactive (NASDAQ:PTON) Price Target Raised to $8.50

Peloton Interactive (NASDAQ:PTON) had its price target upped by BMO Capital Markets from $6.50 to $8.50 in a report published on Monday, Benzinga reports. The firm currently has a market perform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. TD Cowen increased their price target on shares of Peloton Interactive from $3.00 to $4.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Sanford C. Bernstein lifted their target price on Peloton Interactive from $4.25 to $6.50 and gave the stock a “market perform” rating in a report on Friday, November 1st. Robert W. Baird upped their price target on Peloton Interactive from $4.75 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a report on Thursday, October 3rd. Finally, Morgan Stanley raised their price target on shares of Peloton Interactive from $3.50 to $5.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.57.

Peloton Interactive Trading Up 3.5 %

Shares of NASDAQ:PTON opened at $7.93 on Monday. The stock has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $4.16. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $8.92. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -7.41 and a beta of 1.93.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million during the quarter, compared to analysts’ expectations of $572.97 million. During the same period in the previous year, the company posted ($0.44) earnings per share. Peloton Interactive’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that Peloton Interactive will post -0.43 EPS for the current year.

Insider Transactions at Peloton Interactive

In other news, insider Nick V. Caldwell bought 31,337 shares of Peloton Interactive stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $4.25 per share, with a total value of $133,182.25. Following the acquisition, the insider now owns 31,337 shares of the company’s stock, valued at $133,182.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Nick V. Caldwell purchased 31,337 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average cost of $4.25 per share, for a total transaction of $133,182.25. Following the completion of the transaction, the insider now directly owns 31,337 shares in the company, valued at $133,182.25. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now owns 87,014 shares in the company, valued at $424,628.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 194,888 shares of company stock valued at $1,038,717 over the last quarter. 1.34% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Abundance Wealth Counselors grew its holdings in Peloton Interactive by 24.7% during the 2nd quarter. Abundance Wealth Counselors now owns 13,380 shares of the company’s stock valued at $45,000 after buying an additional 2,654 shares in the last quarter. Signaturefd LLC increased its holdings in Peloton Interactive by 2.7% in the 2nd quarter. Signaturefd LLC now owns 113,645 shares of the company’s stock valued at $384,000 after acquiring an additional 3,032 shares during the last quarter. Arizona State Retirement System lifted its stake in Peloton Interactive by 3.8% in the 2nd 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 in the last quarter. Kohmann Bosshard Financial Services LLC boosted its holdings in shares of Peloton Interactive by 50.0% during the 3rd quarter. Kohmann Bosshard Financial Services LLC now owns 15,000 shares of the company’s stock valued at $70,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of Peloton Interactive by 4.3% during the second quarter. Commonwealth Equity Services LLC now owns 133,765 shares of the company’s stock valued at $452,000 after purchasing an additional 5,463 shares in the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.

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.