Peloton Interactive (NASDAQ:PTON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Peloton Interactive (NASDAQ:PTON) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other equities analysts have also commented on PTON. Citigroup decreased their price objective on shares of Peloton Interactive from $9.50 to $8.25 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Truist Financial upped their price target on shares of Peloton Interactive from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $8.00 price target on shares of Peloton Interactive in a report on Thursday, January 29th. Morgan Stanley boosted their price objective on shares of Peloton Interactive from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Peloton Interactive in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Peloton Interactive has a consensus rating of “Moderate Buy” and a consensus target price of $9.72.

Peloton Interactive Trading Up 3.0%

Shares of PTON opened at $5.76 on Friday. The firm has a market cap of $2.41 billion, a PE ratio of -20.57, a P/E/G ratio of 1.68 and a beta of 2.40. Peloton Interactive has a 12 month low of $4.63 and a 12 month high of $10.25. The stock has a fifty day moving average price of $6.32 and a 200-day moving average price of $7.13.

Peloton Interactive (NASDAQ:PTON) last announced its earnings results on Thursday, November 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $550.80 million for the quarter, compared to analysts’ expectations of $540.61 million. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts forecast that Peloton Interactive will post -0.36 EPS for the current year.

Insider Activity

In related news, insider Jennifer Cunningham Cotter sold 148,432 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.22, for a total transaction of $1,071,679.04. Following the completion of the transaction, the insider directly owned 231,764 shares in the company, valued at $1,673,336.08. The trade was a 39.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nick V. Caldwell sold 75,762 shares of the stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $7.00, for a total value of $530,334.00. Following the sale, the insider directly owned 764,220 shares in the company, valued at $5,349,540. This represents a 9.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,107,129 shares of company stock valued at $7,708,694 over the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Peloton Interactive by 342.6% during the 1st quarter. Royal Bank of Canada now owns 616,367 shares of the company’s stock worth $3,896,000 after purchasing an additional 477,106 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Peloton Interactive by 2.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 290,981 shares of the company’s stock valued at $1,839,000 after buying an additional 6,921 shares during the period. NewEdge Advisors LLC increased its holdings in Peloton Interactive by 3,132.6% in the first quarter. NewEdge Advisors LLC now owns 15,549 shares of the company’s stock valued at $98,000 after buying an additional 15,068 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Peloton Interactive by 27.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,056,642 shares of the company’s stock worth $44,598,000 after acquiring an additional 1,503,680 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Peloton Interactive in the first quarter worth about $282,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

About Peloton Interactive

Peloton Interactive, Inc operates a digital fitness platform that combines connected exercise equipment with live and on-demand workout classes. The company’s core products include stationary bikes (Peloton Bike and Bike+), treadmills (Peloton Tread and Tread+), and the Peloton Row. Each device integrates a touchscreen display that streams instructor-led cycling, running, strength, yoga, meditation and other fitness classes. Peloton generates recurring revenue through subscription plans, which grant users access to its growing library of workouts, performance tracking tools and community features.

Founded in 2012 by John Foley and headquartered in New York City, Peloton set out to deliver an immersive home-fitness experience by blending hardware, software and content.