Peloton Interactive (NASDAQ:PTON) Cut to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Peloton Interactive (NASDAQ:PTON) from an outperform rating to a market perform rating in a research note released on Friday, Marketbeat.com reports. The brokerage currently has $3.80 price target on the stock, down from their prior price target of $8.00.

A number of other equities research analysts have also recently weighed in on the stock. Truist Financial cut their price objective on shares of Peloton Interactive from $7.00 to $6.00 and set a hold rating on the stock in a report on Friday, February 2nd. Morgan Stanley assumed coverage on shares of Peloton Interactive in a report on Monday, March 11th. They issued an equal weight rating and a $3.00 price objective on the stock. Bank of America cut their price objective on shares of Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a report on Monday, April 29th. JPMorgan Chase & Co. cut their price objective on shares of Peloton Interactive from $9.00 to $8.00 and set an overweight rating on the stock in a report on Friday, February 2nd. Finally, The Goldman Sachs Group cut their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a neutral rating on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $6.15.

Peloton Interactive Price Performance

PTON stock opened at $3.42 on Friday. Peloton Interactive has a 1 year low of $2.70 and a 1 year high of $9.87. The company has a market cap of $1.25 billion, a P/E ratio of -1.62 and a beta of 2.01. The firm has a 50-day moving average of $3.93 and a 200 day moving average of $4.87.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.06). The company had revenue of $717.70 million for the quarter, compared to the consensus estimate of $720.85 million. Peloton Interactive’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.79) earnings per share. On average, equities research analysts expect that Peloton Interactive will post -1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total value of $38,960.18. Following the transaction, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Johnson & White Wealth Management LLC bought a new stake in shares of Peloton Interactive during the 1st quarter valued at $43,000. Abundance Wealth Counselors bought a new stake in shares of Peloton Interactive during the 1st quarter valued at $46,000. Rakuten Securities Inc. bought a new stake in shares of Peloton Interactive during the 4th quarter valued at $47,000. Carl P. Sherr & Co. LLC bought a new stake in shares of Peloton Interactive during the 3rd quarter valued at $55,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Peloton Interactive during the 4th quarter valued at $78,000. 77.01% of the stock is currently owned by institutional investors.

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.