Peloton Interactive (NASDAQ:PTON) Given New $6.50 Price Target at BMO Capital Markets

Peloton Interactive (NASDAQ:PTON) had its price objective cut by BMO Capital Markets from $7.50 to $6.50 in a report released on Friday, Benzinga reports. They currently have a market perform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Sanford C. Bernstein cut Peloton Interactive from an outperform rating to a market perform rating and cut their price target for the company from $8.00 to $3.80 in a report on Friday. Robert W. Baird dropped their target price on Peloton Interactive from $5.00 to $3.50 and set a neutral rating for the company in a report on Friday. The Goldman Sachs Group dropped their target price on Peloton Interactive from $5.75 to $3.50 and set a neutral rating for the company in a report on Friday. Needham & Company LLC reissued a hold rating on shares of Peloton Interactive in a report on Friday. Finally, Morgan Stanley initiated coverage on Peloton Interactive in a report on Monday, March 11th. They issued an equal weight rating and a $3.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $5.70.

Peloton Interactive Stock Up 3.4 %

Peloton Interactive stock opened at $3.54 on Friday. The business has a 50 day moving average price of $3.90 and a two-hundred day moving average price of $4.86. Peloton Interactive has a 12 month low of $2.70 and a 12 month high of $9.87.

Peloton Interactive (NASDAQ:PTON) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.06). The business had revenue of $717.70 million during the quarter, compared to analysts’ expectations of $720.85 million. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the business posted ($0.79) earnings per share. Equities research analysts forecast that Peloton Interactive will post -1.61 EPS for the current year.

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of the stock in a transaction on Thursday, March 14th. The stock was 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 approximately $453,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of Peloton Interactive by 17.6% in the 4th quarter. Capital World Investors now owns 26,259,325 shares of the company’s stock valued at $159,919,000 after purchasing an additional 3,925,000 shares during the period. Norges Bank acquired a new stake in shares of Peloton Interactive in the 4th quarter valued at about $20,824,000. DNB Asset Management AS raised its stake in shares of Peloton Interactive by 31.7% in the 4th quarter. DNB Asset Management AS now owns 8,386,903 shares of the company’s stock valued at $51,076,000 after purchasing an additional 2,020,159 shares during the period. Patient Capital Management LLC raised its stake in shares of Peloton Interactive by 32.7% in the 4th quarter. Patient Capital Management LLC now owns 6,196,285 shares of the company’s stock valued at $37,735,000 after purchasing an additional 1,527,471 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Peloton Interactive by 612.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,235,350 shares of the company’s stock valued at $6,239,000 after acquiring an additional 1,061,868 shares in 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.