Peloton Interactive (NASDAQ:PTON) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Peloton Interactive (NASDAQ:PTON) in a research note issued to investors on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Peloton Interactive from $8.00 to $7.00 and set an overweight rating on the stock in a report on Friday, May 3rd. Bank of America dropped their price objective on Peloton Interactive from $4.00 to $3.25 and set an underperform rating on the stock in a research note on Monday, April 29th. Needham & Company LLC reaffirmed a hold rating on shares of Peloton Interactive in a report on Friday, May 3rd. Morgan Stanley initiated coverage on shares of Peloton Interactive in a report on Monday, March 11th. They issued an equal weight rating and a $3.00 price target for the company. Finally, Roth Mkm lowered their price objective on shares of Peloton Interactive from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $5.70.

Peloton Interactive Trading Up 15.5 %

Shares of NASDAQ PTON opened at $4.09 on Tuesday. Peloton Interactive has a 12-month low of $2.70 and a 12-month high of $9.87. The company has a market cap of $1.50 billion, a PE ratio of -1.94 and a beta of 2.01. The stock has a 50 day simple moving average of $3.89 and a 200-day simple moving average of $4.85.

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

Insider Buying and Selling at Peloton Interactive

In other Peloton Interactive news, CFO Elizabeth F. Coddington sold 8,977 shares of Peloton Interactive 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 completion of the sale, the chief financial officer now directly owns 104,428 shares in the company, valued at $453,217.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Peloton Interactive

Several hedge funds and other institutional investors have recently bought and sold shares of PTON. Commonwealth Equity Services LLC raised its holdings in Peloton Interactive by 162.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 129,454 shares of the company’s stock valued at $654,000 after acquiring an additional 80,047 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Peloton Interactive by 149.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 55,612 shares of the company’s stock valued at $281,000 after buying an additional 33,307 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Peloton Interactive by 73.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 30,062 shares of the company’s stock worth $152,000 after acquiring an additional 12,697 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Peloton Interactive by 18.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,050 shares of the company’s stock valued at $258,000 after acquiring an additional 7,875 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new stake in Peloton Interactive during the third quarter valued at approximately $185,000. 77.01% of the stock is currently owned by institutional investors and hedge funds.

About Peloton Interactive

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.