Peloton Interactive (NASDAQ:PTON) Price Target Cut to $3.50

Peloton Interactive (NASDAQ:PTON) had its price objective cut by equities research analysts at Robert W. Baird from $5.00 to $3.50 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 2.19% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group reduced their price objective on Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price objective (down previously from $5.00) on shares of Peloton Interactive in a research note on Monday, April 29th. Bank of America dropped their target price on Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating on the stock in a report on Monday, April 29th. Truist Financial dropped their target price on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Finally, Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $8.00 to $3.80 in a report on Friday. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Peloton Interactive currently has an average rating of “Hold” and a consensus target price of $6.15.

Peloton Interactive Stock Performance

Shares of Peloton Interactive stock opened at $3.43 on Friday. Peloton Interactive has a 52 week low of $2.70 and a 52 week high of $9.87. The stock has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $4.87. The stock has a market capitalization of $1.26 billion, a PE ratio of -1.62 and a beta of 2.01.

Peloton Interactive (NASDAQ:PTON) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates 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. During the same period in the previous year, the business earned ($0.79) earnings per share. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts forecast that Peloton Interactive will post -1.61 EPS for the current year.

Insider Activity at Peloton Interactive

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $4.34, for a total transaction of $38,960.18. Following the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at approximately $453,217.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Peloton Interactive

A number of hedge funds and other institutional investors have recently made changes to their positions in PTON. Vanguard Group Inc. increased its stake in Peloton Interactive by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 29,603,777 shares of the company’s stock worth $149,499,000 after acquiring an additional 248,314 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Peloton Interactive by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,232,786 shares of the company’s stock worth $11,276,000 after acquiring an additional 234,729 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in Peloton Interactive in the 4th quarter worth about $78,000. Mak Capital One LLC bought a new position in Peloton Interactive in the 3rd quarter worth about $4,932,000. Finally, TB Alternative Assets Ltd. increased its stake in Peloton Interactive by 31.0% in the 4th quarter. TB Alternative Assets Ltd. now owns 1,014,400 shares of the company’s stock worth $6,178,000 after acquiring an additional 240,300 shares during the last quarter. 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.