Peloton Interactive (NASDAQ:PTON) Rating Lowered to Neutral at Citigroup

Peloton Interactive (NASDAQ:PTON) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $8.00. Citigroup’s price target indicates a potential downside of 2.20% from the company’s previous close.

Several other analysts have also recently commented on the stock. Robert W. Baird decreased their price target on shares of Peloton Interactive from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Friday, May 3rd. Bank of America reduced their target price on shares of Peloton Interactive from $4.00 to $3.25 and set an “underperform” rating for the company in a research note on Monday, April 29th. Roth Mkm reduced their target price on shares of Peloton Interactive from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their target price on shares of Peloton Interactive from $5.75 to $3.50 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Finally, Truist Financial reduced their target price on shares of Peloton Interactive from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.70.

Peloton Interactive Price Performance

Peloton Interactive stock opened at $4.09 on Monday. The company has a market cap of $1.50 billion, a P/E ratio of -1.94 and a beta of 2.01. The firm’s 50 day simple moving average is $3.89 and its 200-day simple moving average is $4.85. Peloton Interactive has a fifty-two week low of $2.70 and a fifty-two week 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 company had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.79) EPS. On average, analysts expect that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $4.34, for a total transaction of $38,960.18. Following the transaction, the chief financial officer now owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Institutional investors and hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. bought a new stake in Peloton Interactive in the 4th quarter valued at $47,000. Johnson & White Wealth Management LLC bought a new stake in Peloton Interactive in the 1st quarter valued at $43,000. Abundance Wealth Counselors bought a new stake in Peloton Interactive in the 1st quarter valued at $46,000. Carl P. Sherr & Co. LLC bought a new stake in Peloton Interactive in the 3rd quarter valued at $55,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Peloton Interactive in the 4th quarter valued at $78,000. Institutional investors 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.