Zacks Investment Research Upgrades Peloton (NASDAQ:PTON) to Buy

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Zacks Investment Research upgraded shares of Peloton (NASDAQ:PTON) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. The brokerage currently has $31.00 price target on the stock.

According to Zacks, “Peloton Interactive creates fitness products. The brand’s content is accessible through the Peloton Bike, the Peloton Tread, and Peloton Digital, which provides a full slate of fitness offerings, anytime, anywhere, through IOS and Android as well as most tablets and computers. “

PTON has been the topic of several other reports. UBS Group increased their price objective on shares of Peloton from $29.00 to $38.00 and gave the company a positive rating in a research report on Tuesday, December 10th. They noted that the move was a valuation call. Wolfe Research raised shares of Peloton from an underperform rating to a market perform rating in a research report on Monday, October 21st. MKM Partners increased their price objective on shares of Peloton from $26.00 to $28.00 and gave the company a neutral rating in a research report on Thursday, February 6th. BMO Capital Markets started coverage on shares of Peloton in a research report on Monday, February 3rd. They set a market perform rating and a $27.00 price objective on the stock. Finally, Stifel Nicolaus reissued a buy rating and set a $38.00 price objective (up from $37.00) on shares of Peloton in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $35.95.

Shares of PTON stock opened at $27.66 on Tuesday. Peloton has a one year low of $20.46 and a one year high of $37.02. The company’s 50-day moving average price is $29.93. The company has a current ratio of 3.47, a quick ratio of 3.01 and a debt-to-equity ratio of 0.32.

Peloton (NASDAQ:PTON) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.12. The firm had revenue of $466.30 million for the quarter, compared to analysts’ expectations of $423.74 million. During the same period last year, the company posted ($4.83) earnings per share. The business’s revenue for the quarter was up 77.4% compared to the same quarter last year. On average, analysts forecast that Peloton will post -0.99 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PTON. Alpine Group USVI LLC purchased a new position in shares of Peloton in the third quarter worth approximately $648,000. St. Johns Investment Management Company LLC purchased a new position in shares of Peloton in the third quarter worth approximately $35,000. Flagship Harbor Advisors LLC purchased a new position in shares of Peloton in the third quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new position in shares of Peloton in the third quarter worth approximately $112,000. Finally, Sageworth Trust Co purchased a new position in shares of Peloton in the third quarter worth approximately $25,000. 21.50% of the stock is currently owned by hedge funds and other institutional investors.

About Peloton

Peloton Interactive, Inc provides interactive fitness products in North America. It offers connected fitness products, such as the Peloton Bike and the Peloton Tread, which include touchscreen that streams live and on-demand classes. The company also provides connected fitness subscriptions for multiple household users, and access to all live and on-demand classes, as well as Peloton Digital app for connected fitness subscribers to provide access to its classes.

Further Reading: Cash Flow

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Analyst Recommendations for Peloton (NASDAQ:PTON)

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