Peloton Interactive (NASDAQ:PTON) Stock Rating Reaffirmed by Needham & Company LLC

Peloton Interactive (NASDAQ:PTON)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports.

Other analysts have also issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Peloton Interactive from $6.50 to $5.75 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Sanford C. Bernstein lowered Peloton Interactive from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $8.00 to $3.80 in a research report on Friday. Truist Financial lowered their price objective on Peloton Interactive from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Friday, February 2nd. Morgan Stanley assumed coverage on shares of Peloton Interactive in a research note on Monday, March 11th. They issued an “equal weight” rating and a $3.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Peloton Interactive from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Peloton Interactive has a consensus rating of “Hold” and an average price target of $6.15.

Peloton Interactive Stock Performance

NASDAQ PTON opened at $3.43 on Friday. The company has a market capitalization of $1.26 billion, a P/E ratio of -1.62 and a beta of 2.01. Peloton Interactive has a 52-week low of $2.70 and a 52-week high of $9.87. The company has a fifty day moving average of $3.93 and a 200-day moving average of $4.87.

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 business had revenue of $717.70 million for the quarter, compared to analyst estimates of $720.85 million. Peloton Interactive’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.79) EPS. As a group, analysts forecast that Peloton Interactive will post -1.61 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elizabeth F. Coddington sold 8,977 shares of the company’s 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 sale, the chief financial officer now directly owns 104,428 shares of the company’s stock, valued at $453,217.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Peloton Interactive

Several hedge funds have recently bought and sold shares of the business. Rakuten Securities Inc. purchased a new position in shares of Peloton Interactive during the fourth quarter valued at approximately $47,000. Johnson & White Wealth Management LLC bought a new position in Peloton Interactive during the 1st quarter valued at approximately $43,000. Abundance Wealth Counselors purchased a new position in Peloton Interactive during the first quarter valued at $46,000. Carl P. Sherr & Co. LLC bought a new stake in Peloton Interactive in the third quarter worth $55,000. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Peloton Interactive in the fourth quarter worth $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.