Peloton Interactive (NASDAQ:PTON) Price Target Raised to $9.00 at Telsey Advisory Group

Peloton Interactive (NASDAQ:PTON) had its target price increased by equities research analysts at Telsey Advisory Group from $5.00 to $9.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 5.88% from the stock’s previous close.

Several other brokerages also recently issued reports on PTON. BMO Capital Markets reaffirmed a “market perform” rating and set a $6.50 price target on shares of Peloton Interactive in a report on Tuesday, October 1st. JMP Securities reiterated a “market perform” rating on shares of Peloton Interactive in a research note on Thursday, October 3rd. Robert W. Baird raised their price objective on shares of Peloton Interactive from $4.00 to $4.75 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Macquarie reaffirmed a “neutral” rating and issued a $2.53 target price on shares of Peloton Interactive in a research report on Thursday, August 22nd. Finally, JPMorgan Chase & Co. cut Peloton Interactive from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $5.00 in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Peloton Interactive has a consensus rating of “Hold” and an average target price of $4.97.

Peloton Interactive Stock Up 27.8 %

PTON stock opened at $8.50 on Friday. The company has a market cap of $3.20 billion, a price-to-earnings ratio of -5.63 and a beta of 2.04. Peloton Interactive has a twelve month low of $2.70 and a twelve month high of $8.92. The business has a 50 day moving average price of $5.07 and a two-hundred day moving average price of $4.03.

Peloton Interactive (NASDAQ:PTON) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $586.00 million for the quarter, compared to the consensus estimate of $572.97 million. Peloton Interactive’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.44) EPS. On average, equities research analysts anticipate that Peloton Interactive will post -0.65 EPS for the current fiscal year.

Insider Activity at Peloton Interactive

In other Peloton Interactive news, CAO Saqib Baig sold 50,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total value of $244,000.00. Following the sale, the chief accounting officer now owns 87,014 shares of the company’s stock, valued at approximately $424,628.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Chris Bruzzo sold 24,977 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $5.80, for a total transaction of $144,866.60. Following the completion of the transaction, the chief executive officer now directly owns 149,240 shares in the company, valued at $865,592. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Saqib Baig sold 50,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $4.88, for a total transaction of $244,000.00. Following the sale, the chief accounting officer now directly owns 87,014 shares in the company, valued at approximately $424,628.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 167,880 shares of company stock valued at $815,767 over the last three months. 1.34% of the stock is owned by insiders.

Institutional Investors Weigh In On Peloton Interactive

Hedge funds have recently modified their holdings of the company. DME Capital Management LP bought a new position in Peloton Interactive in the second quarter valued at about $22,947,000. DNB Asset Management AS raised its stake in shares of Peloton Interactive by 42.4% during the second quarter. DNB Asset Management AS now owns 12,130,553 shares of the company’s stock valued at $40,880,000 after acquiring an additional 3,611,069 shares during the last quarter. Clearline Capital LP acquired a new position in shares of Peloton Interactive during the second quarter worth $7,527,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Peloton Interactive in the first quarter worth $5,877,000. Finally, Vanguard Group Inc. lifted its holdings in Peloton Interactive by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 31,554,832 shares of the company’s stock worth $135,212,000 after buying an additional 1,215,397 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.

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.